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Citizens Insurance hikes? Proposal may lead to double-digit rate increases

State leaders and Citizens officials want to shrink Citizens Insurance, at least in part to reduce financial risks if Florida gets hit by a hurricane or multiple hurricanes. In this file photo, fishermen push a boat damaged by Hurricane Beryl at the Bridgetown fisheries, Barbados, on July 2, 2024. (AP Photo/Ricardo Mazalan)
State leaders and Citizens officials want to shrink Citizens Insurance, at least in part to reduce financial risks if Florida gets hit by a hurricane or multiple hurricanes. In this file photo, fishermen push a boat damaged by Hurricane Beryl at the Bridgetown fisheries, Barbados, on July 2, 2024. (AP Photo/Ricardo Mazalan)
UPDATED:

Florida regulators Thursday dug into a proposal that would lead to double-digit rate increases for customers of Citizens Property Insurance Corp., as the state insurer of last resort continues trying to push policies into the private market.

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