{"id":46866,"date":"2024-06-19T16:38:33","date_gmt":"2024-06-19T20:38:33","guid":{"rendered":"https:\/\/lakelandgazette.info\/news\/?p=46866"},"modified":"2024-06-19T16:38:38","modified_gmt":"2024-06-19T20:38:38","slug":"citizens-property-insurance-sent-a-request-for-a-14-rate-hike-to-state-regulators","status":"publish","type":"post","link":"https:\/\/lakelandgazette.info\/news\/2024\/06\/19\/citizens-property-insurance-sent-a-request-for-a-14-rate-hike-to-state-regulators\/","title":{"rendered":"Citizens Property Insurance sent a request for a 14% rate hike to state regulators"},"content":{"rendered":"\n

The Citizens Property Insurance Corporation, Florida\u2019s largest property insurance provider, approved recommendations for an average 14% rate hike on personal property owner policies on Wednesday.<\/p>\n\n\n

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The board of governors voted unanimously to send the recommendations to state regulators who will then hold a public hearing before finalizing the 2025 rates.<\/p>\n\n\n\n

During the meeting, the board emphasized the need for market competition in order to help drive down rates in the future.<\/p>\n\n\n\n

It also pointed to the legislative successes that have come out of Florida in recent years, highlighting how property insurance reform is helping.<\/p>\n\n\n\n

Gov. Ron DeSantis pointed to reforms in reaction to the news on Wednesday, along with highlighting how inflation has skyrocketed under President Joe Biden, saying its one big factor playing a role in costs.<\/p>\n\n\n\n

Specifically, it highlighted SB 2A<\/a> from 2022, sponsored by Sen. Jim Boyd, R-Bradenton. The bill protects property owners while also attempting to help give providers more leeway.<\/p>\n\n\n\n

Boyd has played a large role in much of the state\u2019s efforts to solve Florida\u2019s property insurance crisis.<\/p>\n\n\n\n

\u201cThe property insurance reform, coupled with tort reform, is going to make a massive difference in homeowners\u2019 premium costs over the foreseeable future,\u201d he said during an interview on Florida\u2019s Voice with Brendon Leslie.<\/p>\n\n\n\n

\u201cThe reality is that most people haven\u2019t seen it in their rate reductions, or most of it, because it takes a year and a half to 18 months for those changes to filter through the rate making process,\u201d he added.<\/p>\n\n\n\n

Citizens Insurance has roughly 1.2 million policies currently in the state.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Citizens Property Insurance Corporation, Florida\u2019s largest property insurance provider, approved recommendations for an average 14% rate hike on personal property owner policies on Wednesday. The board of governors voted… <\/p>\n","protected":false},"author":2,"featured_media":21325,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"14","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","inline_featured_image":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"wpai_generated_summary":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"dois","default_image_id":71799,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[14],"tags":[8865],"class_list":["post-46866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-citizens-property-insurance-sent-a-request-for-a-14-rate-hike-to-state-regulators"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts\/46866","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/comments?post=46866"}],"version-history":[{"count":1,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts\/46866\/revisions"}],"predecessor-version":[{"id":46867,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts\/46866\/revisions\/46867"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/media\/21325"}],"wp:attachment":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/media?parent=46866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/categories?post=46866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/tags?post=46866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}