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The state-backed Citizens Property Insurance Corp added more than 3,000 policies the week of Jan. 16 as it neared a total of 1.15 million policies, according to data posted on its website.

Citizens had 1,148,629 policies, up from 1,145,178 a week earlier.

Citizens, which was created as an insurer of last resort, has seen explosive growth during the past two years as private insurers have dropped customers and raised rates because of financial problems.

By comparison, Citizens had 759,305 policies at the end of 2021 and 542,739 policies at the end of 2020.

Citizens is updating their eligibility rules to comply with Senate Bill 2-A, passed by Florida legislators during the December 2022 Special Session. This communication covers new business only. We will send information about renewal at a later date.

All personal residential new-business applications effective on or after April 1, 2023, that include wind coverage and are located in the special flood hazard area, as defined by the National Flood Insurance Program (NFIP), now are required to have flood insurance.

Additionally, all customers impacted by this new rule will be required to sign a Policyholder Affirmation Regarding Flood Insurance (CIT FW01).

Coverage Requirements
Under the new rule, a new-business applicant located in a special flood hazard area is required to secure flood coverage from the NFIP or a private insurance carrier at the following limits:

• Dwellings: Equal to or greater than Citizens’ separate Coverage A and Coverage C limits 
• Condominium or unit-owners: Equal to or greater than Citizens’ separate Coverage A and Coverage C limits 
• Tenant contents: Equal to or greater than Citizens’ Coverage C limit
• Cooperative unit-owners: Equal to or greater than Citizens’ Coverage C limit

If the above limits are not available from the NFIP, Citizens will accept the maximum coverage amount for which the insured is eligible. Maximum NFIP limits:

• Regular Program: $250,000 Coverage A, $100,000 Coverage C 
• Emergency Program: $35,000 Coverage A, $10,000 Coverage C