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TALLAHASSEE — The state-backed Citizens Property Insurance Corp.’s variety of insurance policies has continued to climb after reaching 1 million early this month.
Citizens had 1,013,147 insurance policies as of the top of final week, up from 1,000,624 on Aug. 5, in accordance to the insurer’s web site.
Citizens, which was created as an insurer of final resort, has been flooded with insurance policies throughout the previous two years as non-public insurers have shed clients and raised charges due to monetary issues.
Also, 5 non-public insurers have been declared bancrupt since February, which has led to owners turning to Citizens for protection.
As illustrations of the expansion, Citizens had 499,056 insurance policies on Aug. 31, 2020, and 687,079 insurance policies on Aug. 31, 2021, in accordance to information posted on its web site.
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