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Citizens Ready to Assist Carriers in the Event of a Demotech Rating Downgrade

By order of the Office of Insurance Regulation (OIR), with support from the Governor’s Office and the Chief Financial Officer’s office, Citizens is ready to assist carriers in the event of a rating downgrade by Demotech. Carriers that are in compliance with all provisions of the Florida Insurance Code may enter into an arrangement by endorsement with Citizens.

This arrangement prevents the need for policies to be rewritten with Citizens. This is applicable when the mortgage on the insured dwelling is owned by the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac).

Under the arrangement, if a carrier becomes insolvent, Citizens will pay the balance of all unpaid covered property insurance claims above the FIGA limit.

Each Endorsement with a carrier will expire no later than June 1, 2023.

No action is required on the part of agents or the policyholders.


  • On Citizens’ website, select About Us for Citizens’ financial information and more
  • The OIR website and their FAQs provide detailed information on the technical aspects of the arrangement

Legal Disclaimer

Citizens provides agent communications online for historical purposes only, and the communications 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 and accessing our FAQs, which are available from the top of any page on our website.