Floir and Citizens establish temporary reinsurance arrangement to curb policy displacement
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Floir and Citizens establish temporary reinsurance arrangement to curb policy displacement

Farhin Lilywala
27 July 2022
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In response to Demotech's downgrade warnings, the Florida Office of Insurance Regulation (Floir) has joined forces with state insurer Citizens Property Insurance Corporation to create a temporary reinsurance arrangement.

The purpose of the agreement is to allow insurers to meet the guidelines established by Fannie Mae and Freddie Mac (GSEs) and ensures that policyholders will keep their current coverage provider, keeping additional policies out of Citizens.

Florida

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Farhin Lilywala
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