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Revised Underwriting Manuals
March 29, 2017
The Florida Office of Insurance Regulation (OIR) has approved revisions to Citizens’ personal lines underwriting manuals, effective April 1, 2017. Citizens revised the manuals to achieve a more consistent format and to consolidate and reorder rules and rating tables for ease of use.
Each underwriting manual now will be separated into two segments: Underwriting Guidelines and Rating Steps and Factors. The most significant changes in these two segments are outlined below.
There are no rule changes associated with the revised underwriting manuals.
All underwriting rules and guidelines now will be included in the smaller, more consolidated Underwriting Guidelines segment of the manual.
Newly Combined Rules
Newly combined rules include:
- Applications, Quotes, & Policy Period
- Premium & Payment Options
- Loss History & Credit Reports
- Construction Definitions & Single Building Definition
- Optional and Additional Coverages
References to default limits for Coverage B and C have been removed.
Rating Steps and Factors
All premium calculation steps and rating factor tables now will be included in the Rating Steps and Factors segment of the manual.
- All rating steps and factor tables are reordered to follow the steps of the premium calculation worksheets.
- New Business Capping Ratio has been renamed to New Business Capping Factor.
Note: This change is to differentiate between the New Business Capping Factor and the policy’s Capping Ratio, which are two different values displayed on the premium calculation worksheets.
- Territory Definitions and CAT protection surcharges are moved to the end of the rating section.
Updated underwriting manuals are located in the Personal section for each line of business on the Agents site of the Citizens website.
Agent Bulletins are provided for historical purposes only and have not been updated to include any changes that may have been made after publication. Agents can find the latest information by reviewing the applicable underwriting manuals and by logging in, then selecting Search → Search Frequently Asked Questions.