Collier County Hurricane Ian

Citizens Insurance Nears 1.16M Policies In Florida

The state-backed Citizens Property Insurance Corp. added more than 5,700 policies last week, as its overall total neared 1.16 million, according to data posted Monday on its website.
TFP File Photo

The state-backed Citizens Property Insurance Corp. added more than 5,700 policies last week, as its overall total neared 1.16 million, according to data posted Monday on its website.

Citizens had 1,159,074 policies as of Friday, up from 1,153,335 policies a week earlier and 1,148,629 policies two weeks earlier.

Citizens, which was created as an insurer of last resort, has seen massive growth during the past two years as private insurers have dropped customers and raised rates because of financial problems.

In the news: Citizens Boosts Florida Hurricane Ian Cost Estimate To $3.8B

By comparison, Citizens had 759,305 policies at the end of 2021 and 542,739 policies at the end of 2020.

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