04 Feb Changes Coming To Citizens? Wait…and See?
While the State has, for years (decades?) dragged its feet on reforming Citizens, have to give (partial) credit where credit is due…it certainlyappears as though the State (and the OIR) is more committed to reforming Citizens now than at any other time in the past. This is also one of the first times that – again, appearances count – the State and the OIR have been candid in discussing the real hurdles and market pain that will exist if/when changes to Citizens are made. Kudos to Kevin McCarty (“You cannot be an alternative market offering affordable insurance and at the same time be a market of last resort”) and to State Senator David Simmons who “[acknowledges] that the path ahead will not be easy.”
On an anecdotal basis, it seems like many consumers are noticing rising insurance rates for their homes, apartments, and condominiums. And that’s NEVER an easy circumstance…especially in an economy like this one. But the reformation of Citizens will – as per K McCarty and D Simmons – involve some wrenching changes. And as Citizens sheds policies , then it’s apparent that those changes are underfoot.
Sabal’s clients know that they’re not relegated to Citizens. Sabal assists its many commercial clients find affordable coverage in the private markets every day and we continue to do so as new markets emerge for property risks in Florida (and beyond). Sabal can assist you in your search for property coverage, especially high-valued, multi-family, and coastal property risks. You can check our website for our extensive capabilities (and our shortform property application! Find it here). If it’s simpler, you can call us at 800 716 9948 or email us email@example.com.