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Know this... "For the first time in almost a decade, a new insurance carrier .....is expected to make take-out offers to more than 42,000 Citizens Property Insurance policyholders."
Wow!
"The Florida Office of Insurance Regulation granted VYRD a certificate of authority in late November. The selected policies taken from Citizens will be transferred starting in February, according to a consent order that authorized the move.
The startup and takeouts are being hailed as good news for Florida and for Citizens, the state-backed insurer of last resort that has seen rapid growth and has become one of the largest homeowners’ insurance companies in the state. Four carriers in Florida have become insolvent in the last few years and others have pulled out of the market altogether, despite steady rate increases for consumers."
...
"Under Florida law, VYRD will have to notify homeowners, who can opt to stay with Citizens. Citizens’ officials are hoping for legislation next month that will bar policyholders from refusing takeout offers if the offer is expected premiums are less than 20% higher than Citizen’s prices."
You can read the rest of the article on Insurance Journal.
Wow!
"The Florida Office of Insurance Regulation granted VYRD a certificate of authority in late November. The selected policies taken from Citizens will be transferred starting in February, according to a consent order that authorized the move.
The startup and takeouts are being hailed as good news for Florida and for Citizens, the state-backed insurer of last resort that has seen rapid growth and has become one of the largest homeowners’ insurance companies in the state. Four carriers in Florida have become insolvent in the last few years and others have pulled out of the market altogether, despite steady rate increases for consumers."
...
"Under Florida law, VYRD will have to notify homeowners, who can opt to stay with Citizens. Citizens’ officials are hoping for legislation next month that will bar policyholders from refusing takeout offers if the offer is expected premiums are less than 20% higher than Citizen’s prices."
You can read the rest of the article on Insurance Journal.
