Why not just expand state-run Citizens Property Insurance Corp. to cover all homeowners in Florida?
It’s a timely question for the fast-growing state-owned insurer of last resort after a run of costly hurricanes and heavy litigation have resulted in five straight years of collective insurance industry losses, failure of 15 insurance companies since 2020, and huge rate hikes for homeowners.
Created in 2002, Citizens is meant to provide insurance coverage only to homeowners who cannot otherwise obtain it at an affordable price.
