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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 | 10 hours 4 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 9 hours 17 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 12 hours 13 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 | 42 days 2 hours 28 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) | 42 days 12 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.


Axis Loses $136m Contract
InsuranceNewsNet | 4 hours 5 minutes ago
...


State Auto Financial Corporation to Host Fiscal 2009 Third Quarter Earnings Conference Call [Press Release]
Business Wire | 41 days 11 hours 40 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.





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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