CITIZENS ASKS FOR FLORIDA RATE HIKES OF UP TO 90%

Citizens Property Insurance, Florida's property insurer of last resort, has filed for a 23% average increase in rates on its 220,000 homeowners' policies and other increases for its windstorm, rental and condominium policies. Proposed increases — which would not affect commercial p/c customers — would range from 1% to 90%. For wind-only policies it has asked for an increase of about 12%. Florida state has 60 days to review the filing which, if approved, would become effective for some policies from February 1. Citizens said that it had worked closely with officials on the filings and that it expected them to be approved. Meanwhile, MetLife Auto and Home has asked for a 17% increase in its Florida rates.