Citizens insurance: 81,500 switch offers approved for May

Citizens.jpgState regulators said Tuesday they approved up to 81,500 offers in May from private insurers for customers of state-run Citizens Property Insurance Corp., though early returns suggest slowing departures in 2016.

Approved for May were Anchor Property & Casualty Insurance Co., up to 10,000 policies;
Heritage Property & Casualty Insurance Co, up to 55,000 policies; and Southern Oak Insurance Co., up to 15,000 policies,

Up to 425,149 offers have been approved in 2016, though the actual number of policies removed from Citizens as of Jan, 19 was 19,424, the Office of Insurance Regulation said.

Private insurers have not necessarily carried out the maximum number of approved offers, and remaining Citizens customers may be growing choosier, the numbers suggest. The state-run carrier has shrunk to its lowest policy count since its 2002 creation, below 500,000.

Citizens customers have a choice to remain but are automatically switched if they take no action on letters conveying the offers.

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