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Personal Lines Bulletin

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2023 Rate Change and Florida Insurance Guaranty Association Assessment

The Florida Office of Insurance Regulation (OIR) has approved changes effective January 1, 2023, to all Personal Lines for new and renewal business to:

  • Increase the statutory maximum allowable individual rate change cap to 12% (“glidepath”)
  • Institute a 2023 Florida Insurance Guaranty Association Assessment (FIGA) Regular Assessment

Rate Changes (All Types)

For policies written on or after January 1, 2023, the statutory maximum allowable cap for individual rate changes (“glidepath”) will be 12%, excluding coverage changes, mitigation adjustments, rate changes for sinkhole loss coverage, assessments and surcharges, as well as a required rapid cash build-up provision for the Florida Hurricane Catastrophe Fund, if applicable.

Note: As a result of Senate Bill 76, Citizens began increasing the capped "glide path" on rate increases by 1% annually until the cap reaches 15% in 2026.

Florida Insurance Guaranty Association Assessment

For new and renewal policies effective January 1, 2023, through December 31, 2023, a FIGA assessment factor of 0.007 (or 0.70%) will be applied (minimum charge of $1).

Note: This is in addition to the 2022B FIGA assessment announced in the May 2, 2022, Personal Lines Bulletin.

The additional approved assessment is necessary to secure funds for Claims payments due to the insolvency of insurance companies.

The 2023 FIGA Regular Assessment will display in PolicyCenter® in the Mandatory Additional Surcharges section and on the Declarations page in the Required Additional Charges section.


Log in to the Agents website, go to the Personal section, click on one of the specific policy types on the left side of the page to view the:

  • Rating worksheets
  • Rate Changes by Territory chart on the left side of the page under the Spotlight section on the right side of the page

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.