Citizens Customers Sent To Clearinghouse
|By Donna Gehrke-White, Sun Sentinel|
|McClatchy-Tribune Information Services|
Citizens began to send notices Monday telling customers with multiperil policies that their policies will be offered to private companies when they come up for renewal in November.
Property owners won't have to accept the offers from other insurers unless a premium is the same or cheaper than Citizens', spokesman
The change is part of Citizens' efforts to reduce its number of policies to lessen the risk for the state. The public insurer has gone from a high of 1.4 million policies in
New customers have been passed through the clearinghouse since January. In their case, they must use a private insurer unless premiums are at least 15 percent higher than Citizens'.
Offers for multiperil coverage for current customers will come from six private companies in the clearinghouse. Citizens said it expects to add more insurers.
"I think it is a good thing that people will have more choices," said
More private insurers have come into the state, increasing competition and lowering premiums for some property owners, McChristian said.
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