Citizens CEO Cerio optimistic on depopulation efforts, market recovery
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Citizens CEO Cerio optimistic on depopulation efforts, market recovery

Citizens logo Tallahassee Florida.jpg

Citizens CEO Tim Cerio told Florida lawmakers that the state-owned entity’s effort to move its policyholders to private insurers is seeing better results than initially expected, with Citizens revising its policy count estimate downward to 1.3 million by year’s end. 

Earlier forecasts had estimated ending 2023 with between 1.5 million and 1.7 million policies.

In a presentation yesterday to the Florida Senate Committee on Banking and Insurance, Cerio said the rates Citizens currently charges are “actuarily unsound” and are approximately...

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