Read what Barbara Aubel, President of Downtown Jewel Neighborhood Association, has to say about Citizens being allowed to raise its rates by 10% until such time it adequately offsets its risk. We all know how that goes.
Back in 2002, the State Legislature established Citizens, a non-profit and State managed insurance company. Citizens writes wind damage and hurricane only wind insurance, personal and commercial property insurance as well as multi-peril policies. Years back, State Farm dropped our building coverage. To my amazement, my policy premium with Citizens actually went down significantly last year. In 2007, Citizens had a 45.2% growth in policy holders.
