2030 Goal Leader Update: Actuarially sound property insurance rates based on actual risk and competition

Legislation has been filed this year that would prevent policies from remaining in Citizens Property Insurance if they receive an offer that is within 20 percent of Citizens’ rates. With Citizens’ rates being more affordable than the private market 99 percent of the time, policies have been able to remain in Citizens because their rates are artificially lower due to the statutorily created glide path that caps Citizens Property Insurance rates.