Florida’s Citizens Property Insurance Corp. to offload thousands of policies this month. Here’s why.

ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.

Private insurers are projected to take about 76,000 policies this month from the state’s Citizens Property Insurance Corp. amid long-running efforts to shift customers into the private market.

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Citizens President and CEO Tim Cerio gave the projection Jan. 25 while speaking to the House Insurance & Banking Subcommittee.

He also said Citizens is projecting that 338,000 policies will move to private carriers this year, up from about 275,000 in 2023.

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