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The state-backed Citizens Property Insurance Corp. ended May with 883,333 policies, a nearly 45 percent increase from a year earlier, according to newly posted data. The insurer had 609,805 policies as of May 31, 2021, but it has continued to add thousands of policies a week as private insurers drop customers and seek hefty rate increases amid financial losses.
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The state-backed Citizens Property Insurance Corp. ended May with 883,333 policies, a nearly 45 percent increase from a year earlier, according to newly posted data. The insurer had 609,805 policies as of May 31, 2021, but it has continued to add thousands of policies a week as private insurers drop customers and seek hefty rate increases amid financial losses.
