A message from FIRM President Mel Montagne
This post is meant to provide a clear explanation of the depopulation process for commercial and commercial residential policies from Citizens Property Insurance Corporation (Citizens), a state-backed insurer of last resort that has seen its policy count shrink significantly from over 1.4 million in 2023 to approximately 777,000 as of mid-2025. This ongoing effort, approved by the Florida Office of Insurance Regulation, aims to transfer policies to private carriers to stabilize the market and reduce financial risks from potential hurricanes.
Depopulation involves private insurers assuming batches of Citizens policies, with policyholders receiving offers if the new premium is within 20% of their current Citizens rate. For commercial residential policies—covering multi-family or mixed-use properties—several carriers have been actively involved in 2025 takeouts. Key participants include:
– **American Integrity Insurance Co. of Florida**: Approved for multiple rounds, including 35,000 policies in June 2025 and 102,923 in October 2024, targeting commercial residential among others.
– **Mangrove Property Insurance Co.**: Authorized to assume up to 81,040 policies in April and another 81,040 in June 2025.
– **Patriot Select Property and Casualty Insurance Co.**: Part of the June 2025 round for up to 135,540 total policies across three carriers.
– **Slide Insurance Co.**: Also in the June 2025 depopulation, focusing on viable commercial risks.
– **Southern Oak Insurance Co.**: Approved for 50,000 policies in June 2025.
– **Florida Peninsula Insurance Co.**: Set to take up to 40,000 policies in late October 2025.
– **Monarch National Insurance Co.**, **Manatee Insurance Co.**, and **Universal North America Insurance Co.**: Scheduled for November 18, 2025 takeouts.
If you hold a commercial residential policy with Citizens, you may soon receive a “Depopulation Offer” notice detailing the assuming carrier, new coverage terms, and your options (e.g., accept, opt out if eligible, or appeal). Actual transfers are often lower than approved maximums, as they depend on policy eligibility and homeowner consent. This process has removed over 155,000 policies in 2025 alone, fostering competition and potentially lower long-term rates.
For personalized details or questions, contact your insurance agent or FIRM. We encourage reviewing offers carefully to ensure continued protection.
The take-out explainer below from FIRM’s Monroe County Property Insurance Users Guide explains the take-out process for Citizens’ residential policies.
For all depopulation information, visit the Citizens website depopulation page.