Florida Cat Fund reform knocks almost 15% off Citizens’ high-risk rates
Florida’s stat-owned insurer of last resort Citizens Insurance has filed the rate decreases it is to pass on to its almost 1.2 million policyholders as result of the reform of the Florida Hurricane Catastrophe Fund.
Paul Palumbo, the firm's senior vice president of underwriting said that homeowners in the firm’s high-risk account will see rate reductions averaging 14.5% and commercial residential risks such as
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