{"id":5125,"date":"2026-06-23T19:06:45","date_gmt":"2026-06-23T19:06:45","guid":{"rendered":"https:\/\/orlandorelocationreport.com\/?p=5125"},"modified":"2026-06-23T19:06:45","modified_gmt":"2026-06-23T19:06:45","slug":"floridas-citizens-property-insurance-sees-policy-count-drop-to-all-time-low","status":"publish","type":"post","link":"https:\/\/orlandorelocationreport.com\/?p=5125","title":{"rendered":"Florida\u2019s Citizens Property Insurance sees policy count drop to all-time low"},"content":{"rendered":"
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TALLAHASSEE \u2014 Efforts to shrink Citizens Property Insurance have brought the policy count for the state-run insurer to what officials herald as a record low.<\/p>\n

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But they also caution that an upturn is bound to occur, though it shouldn\u2019t be as dramatic as ones in the past due to new laws approved in 2022 and 2023.<\/p>\n

Citizens Property Insurance President and CEO Tim Cerio told board members Tuesday in a conference call that depopulation strategies over the past couple of years put the policy count under Citizens at 278,662 as of last Friday.<\/p>\n

\u201cIt seems that we are really at an all-time low for probable maximum loss for Citizens policy insurance, which is great news, and again attributable to the reforms,\u201d Cerio said.<\/p>\n

The policy count, and any potential exposure risk, is down from 1.41 million in October 2023 as financial problems in the private market caused homeowners to fall into Citizens, which became the state\u2019s largest property insurer.<\/p>\n

With the current numbers, Cerio cautioned that a more measured upturn is expected due to the changes in law that help speed the latest depopulation move.<\/p>\n

\u201cWith the reforms, what we think we are going to see is, instead of a drastic increase if the market really turns south at some point, those increases and decreases would be more gradual. They wouldn\u2019t be as drastic,\u201d Cerio said. \u201cThat\u2019s good news for consumers.\u201d<\/p>\n

The recent legislative changes targeted lawsuit costs incurred by insurers. The state also has benefited from a year without any hurricanes, which officials say has allowed some softening in homeowners insurance prices and growth in new carriers into the state.<\/p>\n

<\/p>\n

State leaders have long sought to hold down the number of Citizens policies, at least in part because of financial risks if Florida gets hit by a major hurricane or multiple hurricanes.<\/p>\n

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Citizens was created to provide a haven for homeowners who couldn\u2019t find affordable coverage with a private carrier, but its policy counts have fluctuated significantly, depending on private market conditions.<\/p>\n

Florida Insurance Commissioner Mike Yaworsky claimed at the June 9 Cabinet meeting the insurance market is the healthiest it\u2019s been in at least a decade.<\/p>\n

\u201cThere are well-capitalized companies ready for the oncoming hurricane season, should the worst happen,\u201d Yaworsky said. \u201cSo, we find ourselves in a really good place.\u201d<\/p>\n

<\/p>\n

The policy count high in 2023 wasn\u2019t the peak for Citizens, which reached 1.48 million policies near the end of 2012.<\/p>\n

At that time a series of depopulation efforts were implemented, such as the \u201cclearinghouse\u201d where homeowners would be sent to a private firm when their coverage was within 15% of the offer by Citizens.<\/p>\n

By 2019 Citizens had the count just under 420,000 policies.<\/p>\n

Last week Gov. Ron DeSantis signed a bill (SB 1028) that will create a new clearinghouse for commercial policies and allow surplus lines insurers providing strong financial strength ratings to be considered for the policy takeouts.<\/p>\n

Surplus lines insurers are companies not licensed in Florida but allowed to operate as an \u201celigible\u201d insurer.<\/p>\n

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News Service Assignment Manager Tom Urban contributed to this report.<\/em><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Efforts to shrink Citizens Property Insurance have brought the policy count for the state-run insurer to what officials herald as a record low.<\/p>\n","protected":false},"author":1,"featured_media":5124,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17,13],"tags":[],"class_list":["post-5125","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-florida-news","category-news"],"yoast_head":"\nFlorida\u2019s Citizens Property Insurance sees policy count drop to all-time low - Orlando Relocation Report<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/orlandorelocationreport.com\/?p=5125\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Florida\u2019s Citizens Property Insurance sees policy count drop to all-time low - 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