The Florida Office of Insurance Regulation announced that it will conduct a public hearing later this month to discuss Citizens Property Insurance Corporation’s proposed 2016 rate changes for its business in the multi-peril and wind only Coastal Account (CA), Commercial Lines Account (CLA) and the Personal Lines Account (PLA).

The public hearing will be held on Aug. 25 at the Senate Office Building, at the Florida State Capitol located in Tallahassee, Florida. The hearing is scheduled to begin at 9:00 a.m.

Citizens has said its proposed rate package lowers rates for nearly half of Citizens’ personal lines policyholders while responding to increased water loss claims and continued inadequate rates for its remaining policyholders along the coast.

Listed in the chart below are the proposed rate changes as filed by Citizens. The Florida Office of Insurance Regulation is required, per statute, to render a decision on these filings within two weeks of the hearing.

Please contact L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial, & Life & Financial products as well.

Please enjoy the full article below;

http://www.insurancejournal.com/news/southeast/2015/08/14/378657.htm

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