Profits are up for Citizens, Risk is down and the surplus now exceeds 6.4 Billion, the best in years. According to Citizens Insurance President Barry Gilway, and the actuaries that run the software they expect a 52% decline in coverage for fraudulent claims for Sinkhole which is what they expected, but the actual risk is still there and more. The 6.6% increase is for Citizens and follows the Glide path rate hike rules, but this 24% is only for people who have Sinkhole coverage and if they want to keep it. My guess is many will start to drop the coverage and deal with it if it happens?? PLease read the full story below and please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial, and Life Insurance products as well.

http://www.insurancejournal.com/news/southeast/2013/08/21/302477.htm

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