Florida’s ‘last resort’ insurance provider adds 7,700 new polices last week

Continuing to absorb customers from the troubled private market, the state-backed Citizens Property Insurance Corp. added more than 7,700 policies last week, according to information posted Monday on the Citizens website.

As of Friday, Citizens had 1,071,850 policies, up from 1,064,145 a week earlier.

The new total also was an increase of 45,021 policies from the end of August.

Citizens, which was created as an insurer of last resort, has seen massive growth during the past two years as private insurers have dropped policies, and in some cases gone insolvent, amid financial losses.

As of Sept. 30, 2020, for example, Citizens had 511,055 policies. On Sept. 30, 2021, it had 708,919 policies, according to its website.

This article appears in Sep 30 – Oct 5, 2022.