Citizens Insurance responds to outrage with reforms
The Citizen’s Property Insurance saga continues, after a public outcry over $137 million in premium increases that must still be ringing in the state-backed insurer’s ears. According to the Miami Herald, Citizens is responding to the uproar surrounding its ongoing home inspection program, which cost homeowners millions in insurance discounts, by implementing significant inspection reforms and offering those who lost discounts the opportunity for a free second inspection, as wells as new tools for customers to challenge findings.
The state’s largest insurer is even contemplating applying the changes retroactively, a decision that could impact as many as 175,000 Floridians. Citizens customers have lost $800 in credits per household on average due to recent inspections.
“In response to policyholder and agent feedback, Citizens is implementing changes to its inspection program to address concerns about the implementation and quality of the program as well as provide better education on the importance of protecting homes against storm damage,” said Citizens Chairman Carlos Lacasa. [Miami Herald] – Christopher Cameron