AI Overview

Yes, the state of Florida still underwrites a massive volume of property insurance policies, primarily through its state-backed insurer of last resort, Citizens Property Insurance Corporation. [1, 2]

While major private carriers like Farmers, AAA, and Progressive historically scaled back or pulled out entirely, the state's insurance landscape is undergoing an aggressive transition to push policyholders back into the private market

Current State of Florida's Underwriting Role

• The "Insurer of Last Resort" Burden: When private companies fled due to litigation costs and global reinsurance hikes, Citizens became the largest property insurer in Florida, holding hundreds of thousands of policies. [1, 2, 3]

• The Depopulation Program: Florida does not want to remain the primary underwriter. The Florida Office of Insurance Regulation (OIR) is executing a "depopulation" program. If a private company offers a policy within 20% of the state's price, Citizens policyholders are required to switch to that private carrier. [1, 2, 3, 4]
Impact of Legislative Reforms

The state passed sweeping tort and insurance reforms aimed at curbing frivolous lawsuits and stabilizing the market. The impacts include: [1, 2]

• New Private Competitors: More than 15 new property insurance companies have been approved to enter and underwrite in the state, helping absorb risk away from the state-backed system. [1, 2, 3, 4]

• Premium Relief: The Executive Office of the Governor announced premium reductions for Citizens policyholders alongside rate drops from private insurers. [1]

• Persistent Friction: Critics and independent reports note that despite these legal shifts, average premiums for many homeowners remain among the highest in the country, and the transition off state-backed insurance can sometimes force consumers into more expensive private policies
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Bottom line...CC continues to threaten FLA residents and drive up their costs...and insurers know it. Time for folks like you to face this reality.