Nearly 70,000 Nov. transfer offers aim at Citizens customers

Citizens.jpgClose to 70,000 offers to switch to private insurance companies in November have been approved for customers of state-run Citizens Property Insurance Corp, Florida regulators said Thursday.

That’s more offers than the number of customers who have actually left Citizens the whole year to date.

That pushes the total approved offers for the year to more than 570,000, which is more customers than Citizens has. The company has less than 500,000 policyholders.

Companies are not necessarily making as many offers as regulators approve, however, and customers seem to be choosier with the offers they do get. The number who departed Citizens so far this year: 47,308.

Approved for November takeouts:

  • Homeowners Choice Property & Casualty Insurance Co. – up to 27,000 policies
  • National Specialty Insurance Co. – up to 8,421
  • Safepoint Insurance Co. – up to 4,000
  • Southern Oak Insurance Co. – up to 15,000
  • Weston Insurance Co. – up to 9,577

In addition, Safepoint and Weston may offer more than 4,400 commercial policies between them in November, officials said.

 

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