Frank Artiles to Speak Against Citizens’ Depopulation Loans

Rep. Frank Artiles, R-Miami, will take his sharp criticism of Citizens Property Insurance Corp.s $350 million effort to incentivize private companies to take over some of the states policies to the Florida Office of Insurance Regulation when they meet Thursday.

Artiles, who believes the program was rushed to approval and wants an audit conducted of the companies involved, announced Wednesday he will appear before the insurance regulation board when they meet at 4 p.m. in the Chapman Center at Miami Dade Colleges Wolfson Campus.

The low-interest loan program has the backing of Florida TaxWatch, Americans for Prosperity-Florida, and Associated Industries of Florida for relieving Citizens of thousands of policies and potentially reducing future hurricane tax assessments by an estimated $1.2 billion.

Also on the agenda, the regulation board will conduct a public hearing to discuss the Citizens proposed rate increases for its business in the high-risk Coastal Account and the Personal Lines account that includes mobile homes, and dwelling/fire lines of business.

Citizens' proposed statewide average rate increases for its homeowners line of business, including sinkhole, are 11.1 percent for the Coastal Account and 12 percent for the Personal Lines Account. The sinkhole coverage rate changes range from a decrease of 35.1 percent in Palm Beach County (remainder of the county -- other than coastal) to an increase of 111.9 percent in Marion County. Key sinkhole counties of Hernando, Hillsborough and Pasco reflect a 50 percent increase.

The meeting will be streamed live online on the Florida Channels Web Channel 9.