ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.
The number of Citizens Property Insurance Corp. policies topped 1.2 million last week but likely will decrease as customers move to private insurers.
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Citizens had 1,201,536 policies on May 17, up from 1,196,736 policies a week earlier and 1,191,940 two weeks earlier, according to data posted on its website. But three private insurers — Slide Insurance Co., Security First Insurance Co. and American Integrity Insurance Co. of Florida — have been approved to assume policies from Citizens this week as part of what is known as a “depopulation” program.
Citizens, which was created as an insurer of last resort, has become the state’s largest carrier in recent years as private companies dropped policies and raised rates because of financial problems.
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