The News Service of Florida.
As the annual hurricane season started last week, the state-backed Citizens Property Insurance Corp. added about 8,000 policies. Citizens had 1,308,189 policies as of Friday, up from 1,300,059 policies a week earlier and 1,292,191 policies two weeks earlier, according to information posted on its website. Citizens, which was created as an insurer of last resort, has seen dramatic growth during the past two years as private property insurers have dropped customers and raised rates because of financial troubles. By comparison, Citizens totaled 609,805 policies as of May 31, 2021, and 883,333 policies as of May 31, 2022.