The Florida Office of Insurance Regulation has approved the removal of up to 127,266 personal residential policies and 3,268 commercial residential/nonresidential polices from Citizens Property Insurance Corp. by the following five companies:

  • Anchor Property & Casualty Insurance Co. Received approval to remove up to 20,000 personal residential policies (16,030 Personal Lines Accounts and 3,970 Coastal Accounts).
  • Heritage Property & Casualty Insurance Co. Received approval to remove up to 55,000 personal residential policies (35,000 Personal Lines Accounts and 20,000 Coastal Accounts) and up to 1,500 commercial residential policies (1,300 Commercial Lines Accounts and 200 Coastal Accounts).
  • Safepoint Insurance Co. Received approval to remove up to 20,000 personal residential policies (12,000 Personal Lines Accounts and 8,000 Coastal Accounts).
  • Southern Oak Insurance Co. Received approval to remove up to 15,000 personal residential policies (10,000 Personal Lines Accounts and 5,000 Coastal Accounts).
  • Weston Insurance Co. Received approval to remove up to 17,266 personal residential policies (all Coastal Accounts), up to 719 commercial residential policies (Commercial Lines Accounts) and up to 1,049 commercial nonresidential policies (Commercial Lines Accounts).

Citizen's Personal Lines and Commercial Lines Accounts are mostly noncoastal properties and the Coastal Account is coastal properties.

The take-out periods are Jan. 19, 2016, for personal residential, affecting both the Personal Lines/Coastal Accounts policies, and Jan. 12, 2016, for commercial residential/nonresidential, affecting both the Commercial Lines/Coastal Accounts policies.

This is part of the state's ongoing effort to reduce the number of policies in the state-created Citizens and transfer them to the private insurance market. In 2015, the total number of potential policies approved for take-outs was 1,321,193, and the actual number of policies removed from Citizens as of Sept. 23, 2015, was 172,351.

Policyholders who receive a take-out offer may choose to remain covered by Citizens through the opt-out process.

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