Hurricane Ian Flooding In Florida (TFP File) The state-backed Citizens Property Insurance Corp. added more than 12,000 policies during the first h
The state-backed Citizens Property Insurance Corp. added more than 12,000 policies during the first half of June as the 2023 hurricane season started.
Citizens had 1,316,782 policies as of Friday, up from 1,304,332 at the end of May, according to data posted on its website.
Citizens, which was created as an insurer of last resort, has seen dramatic growth during the past two years as private property insurers have dropped customers and raised rates because of financial troubles.
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By comparison, Citizens totaled 609,805 policies as of May 31, 2021, and 883,333 policies as of May 31, 2022.
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