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Citizens Property Insurance Corporation

News and overview for Citizens Property Insurance Corporation

Louisiana Commissioner: Help Available for Victims of Chinese Drywall
Insurance Journal | 4 hours 56 minutes ago
Louisiana Commissioner of Insurance Jim Donelon says homeowners whose properties are contaminated with defective Chinese drywall and who have been covered for more than three years by their homeowners insurer have the right to continue their coverage while vacating and remediating their home.


Chinese Drywall Study Finds No Solid Link To Health Damage, Fed Agency Says
National Underwriter | 4 days 4 hours 9 minutes ago
Waiting game for concerned insurers, homeowners, as exposure studies continue


Chinese Drywall Study: No Solid Link To Health Issues
National Underwriter | 25 days 7 hours 5 minutes ago
A federal report on Chinese drywall found it contains higher concentrations of bothersome chemicals, but said these would not cause the health issues or physical degradation that have been seen.


Insurers Drop Drywall Victims
Wall Street Journal, The | 41 days 21 hours 20 minutes ago
At least two home insurers in Florida have begun dropping policyholders who filed claims for property damage linked to drywall imported from China.


REAL ESTATE OCTOBER 14, 2009 Insurers Drop Drywall Victims Some Homeowner Policies Canceled After Claims Involving Defective Chinese Product
Barron's (subscription required) | 41 days 19 hours 4 minutes ago
At least two home insurers in Florida have begun dropping policyholders who filed claims for property damage linked to drywall imported from China.


State Auto Financial Corporation to Host Fiscal 2009 Third Quarter Earnings Conference Call [Press Release]
Business Wire | 41 days 6 hours 32 minutes ago
State Auto Financial Corporation (NASDAQ:STFC), a super regional property and casualty insurance holding company, will hold its quarterly conference call to discuss third quarter results on Thursday, October 22, at 10 a.m. Eastern Time. The call will be webcast by Thomson Reuters and can be accessed at STFC’s Web site at StateAuto.com.


State Auto Financial Declares 74th Consecutive Quarterly Dividend [Press Release]
Business Wire | 18 days 2 hours 21 minutes ago
Today the board of directors of State Auto Financial Corporation (NASDAQ: STFC) declared a regular quarterly cash dividend of $0.15 per share, payable December 31, 2009, to shareholders of record at the close of business on December 14, 2009. This is the 74th consecutive quarterly cash dividend declared by the company’s board since STFC had its initial public offering of common stock in 1991.


Boston Scientific profits edge higher as heart-pacing device sales maintain ground -- South Florida Sun-Sentinel.com
Sun-Sentinel (Fort Lauderdale, Fla.) | 36 days 23 minutes ago
NATICK, Mass. (AP) — Medical device maker Boston Scientific Corp. says it returned to a profit in the third quarter as sales of heart-shocking implants held up in spite of hospital cutbacks.


Navistar, SEC settle probe into restatement of results; CEO to return some of '04 bonus -- South Florida Sun-Sentinel.com
Sun-Sentinel (Fort Lauderdale, Fla.) | 35 days 23 hours 49 minutes ago
WARRENVILLE, Ill. (AP) — Truck and engine maker Navistar International Corp. said Monday its chief executive will return part of a 2004 bonus in connection with a settlement of a Securities and Exchange Commission investigation into the company's restatement of several years of previous financial results.


The Hanover Partners with Celevoke to Help Prevent Heavy Equipment Theft [Press Release]
PRNewswire | 76 days 8 hours 30 minutes ago
...The Hanover Insurance Group, Inc. , a leading property and casualty...Technology Corporation, and can be...The Hanover Insurance Group, Inc...Worcester; Citizens Insurance Company...wide range of property and casualty...


USI Consulting Group Launches Managed Retirement Accounts From Morningstar Associates [Press Release]
PRNewswire | 83 days 7 hours 30 minutes ago
...and is the property of Morningstar...for use by citizens and legal...USI Holdings Corporation, USI Consulting...USI Holding Corporation has been one...ten largest insurance brokers in...to Business Insurance, as measured...





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Company Overview


Company: Citizens Property Insurance Corporation
Industry: Property & Casualty Insurance
Website: http://www.citizensfla.com

Being known as "The Sunshine State" doesn't stop hurricanes from invading Florida's shores. This fact drives property insurance rates up; so in 2002 Florida's legislature established Citizens Property Insurance Corporation (Citizens), a non-profit, state-managed insurance company. It provides personal and commercial property/casualty insurance to Floridians who are unable to afford coverage from private sector companies. Citizens writes wind damage and hurricane-only wind damage policies, as well as multi-peril policies. It sometimes sells its policies back to private sector companies to transfer some of the cost away from all Florida property insurance consumers, who pay Citizens' assessments.


Key Numbers

Sales in U.S. Dollars (mil.) 3,699 (2007)
One-year % Growth in Sales 45.1 (2007)
Net Income in U.S. Dollars (mil.) 1,544.3 (2007)
One-year % Growth in Net Income -47.4 (2007)
Number of Employees 986 (2007)
One-year % Growth in Number of Employees 26.2 (2007)
Fiscal Year-End December