The Florida Office of Insurance Regulation has approvedthe removal of up to 45,000 personal residential policies and 500 commercial residential polices from Citizens Property Insurance Corporation.
Heritage Property & Casualty Insurance Company has been approved to remove up to 20,000 personal residential policies and up to 500 commercial residential policies.
The office approved has also approved Mount Beacon Insurance Company to remove up to 25,000 personal residential policies.
This is part of the state’s ongoing effort to reduce the number of policies in state-backed Citizens and transfer them into the private insurance market.
It brings the total number of policies approved for take-outs in 2015 to 582,236. To date, 110,529 policies have been removed from Citizens this year.
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21-23 Elmfield Road