Florida Establishes Citizens’ Commercial Lines Rates for 2016

The Florida Office of Insurance Regulation (FLOIR) issued an order on September 17 establishing the 2016 commercial lines rates for Citizens Property Insurance Corp. The overall estimated statewide average rate changes are shown in the chart. The effective date for both new and renewal rates within the Commercial Lines and Coastal Accounts is February 1, 2016.

Citizens is required by Florida law to file rate recommendations with FLOIR, which then establishes the rates for Citizens by final order. FLOIR previously issued an order for Citizens multi-peril and coastal homeowners that reflects an overall statewide decrease of 1.8 percent for multiperil policyholders across the state.