Private insurers seek no Citizens switches in May, 10,511 in June

Customer exits from Florida’s second largest home insurer have slowed to a trickle, though one insurer is considering 10,511 offers after hurricane season starts in June.

Private insurers will ask no customers of state-run Citizens Property Insurance Corp. to transfer in May. Regulators said Wednesday they approved up to 10,511 offers in June.

The June offers all come from Weston Insurance Co. of Coral Gables.

Customers are automatically switched under the mailed offers unless they actively refuse. Still, out of more than 68,000 approved offers in 2017, only 11, 339 customers have actually left Citizens, records show. Results are not yet known for all offers such as a potential 15,000 from Southern Oak Insurance Co. effective later this month.

It’s a big slowdown from earlier years that saw the state’s insurer of last resort shrink from 1.5 million customers to about 450,000 now.

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