Over 6 Billion in reserves,1.4 billion policies, over 433 Million in profits so far this year and a 10% Increase coming next year. Show me the MONEY!!!!  What Michael Mayo of the Fort Lauderdale Sun Sentinal forgets to mention is that Citizens does not  have reinsurance protection like all other carriers!!! That Re-Insurance is the  people of Florida and the 1.4 million policies in Citizens to start. We all know that a large Hurricane like  Andrew, Wilma, Katrina and others can cost 15-25 Billion so 6  Billion would go away quickly. Citizens has the 45% surcharge ability to help re coop the money, but good luck collecting  from people these days  so the funds are still needed. This is why the 500K depopulation of citizens Insurance  which will help Fort lauderdale and all of  South Florida since 70% of that group will come form there. This would leave 900K policies with the same 6 Billion in reserves which should  be better for everyone. The bottom Line as our Governor Rick Scott has always said, He wants the Insurance companies to be “Fiscally healthy”,so we all knew this was coming. Please read the full article  by Mr. Mayo and was sent to us by our friends at First State Insurance. Please call us for quotes on Home, Auto, Flood, Business & Commercial, and Life Insurance at 1-888-244-7400.

http://weblogs.sun-sentinel.com/news/columnists/mayo/blog/2012/10/fun_facts_about_citizens_insur.html