The state-backed Citizens Property Insurance Corp. ended last week with 1.03 million policies, an increase of 10,000 from the previous week, according to information posted on the Citizens website.
The increase continued explosive growth at Citizens as private insurers drop customers and seek large rate increases because of financial losses.
Citizens, for example, had 759,305 policies as of Dec. 31, meaning its policy count increased more than 35 percent during the first nine months of 2022.
In addition to private insurers reducing policies, Citizens, which was created as an insurer of last resort, also has received customers because five carriers have been declared insolvent since February.
