UPDATE:  The Florida Office of Insurance Regulation (OIR) denied FIRM’s most recent petition addressing the 2017 rates relative to the current rate freeze.  The new petition also addresses the fact that the rate freeze only applies to residential policies in Monroe County.

FIRM will file an appeal of this Order seeking to have it consolidated with the appeal that is pending so that the ruling in the first appeal will be dispositive of the appeal of this order.

Original Post:

FIRM is seeking additional protections for Monroe County residents following Florida Insurance Commissioner David Altmaier’s rate order that denied Citizens Insurance a 2018 rate increase.  FIRM’s attorneys requested a stipulation agreement with the Office of Insurance Regulation (OIR) that if FIRM is successful in its legal efforts to suspend the 2017 Citizens rate increases, the rates frozen by the Commissioner’s 2018 Orders would revert to 2016 levels.  When the OIR declined that request FIRM’s attorneys filed a new petition requesting the rates revert to 2016 levels.

The new Petition also addresses issues created by language that appears in the 2018 Orders.  The rate freeze applies only to residential (HO-3) and dwelling fire policies in Monroe County.  The new Petition contends that all residential and commercial policies in Monroe County should revert to 2016 levels and be frozen pending the analyses ordered by Commissioner Altmaier.

Read the full story and all filed documents on our website here.

The denial of the proposed increase for 2018 is a hard-fought win for FIRM and Monroe County that will save Monroe County policy holders $4 Million in 2018 alone. But, the struggle against unjustifiably high rates continues.  In addition to financial support, FIRM needs the renewed membership of Monroe County residents to show that this is a unified County-wide grassroots effort.

 

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