Regulators approve increases in Citizens Insurance commercial premiums
State regulators approved premium increases Friday for commercial policies issued by Citizens Property Insurance Corp., including a nearly 12 percent increase for condominium association common property in wind-vulnerable coastal areas. Premiums on those policies would increase by 11.9 percent effective Feb. 1. Citizens had sought an increase of 12 percent. Multi-peril policies for other condo association common property will increase by 4.5 percent; and property not belonging to a condo association — but rather to some other form of ownership or homeowners’ associations — by 5.4 percent. Read the article…………….
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