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Citizens chooses higher rate hikes for South Florida than its own numbers indicate

For a change, South Florida policyholders could have enjoyed a much lower rate increase than the 14% approved by the company's Board of Governors. Indicated actuarial rate increases — which the company says is necessary to pay all estimated claims — are much lower than what was approved. Company actuaries justified the higher rate increase with an analysis stating they are needed to make the company "non-competitive" with private-market insurers.