Citizens is updating our rules to comply with recent legislative changes. The Florida Office of Insurance Regulation (OIR) has approved these rule changes effective July 1, 2023.

Underwriting Review Period

For any new-business policies, the underwriting review period (discovery period) will change from 90 to 60 days on July 1, 2023. During this time, Citizens can cancel a policy for failure to satisfy underwriting requirements.

Note: This excludes policies that have been placed with Citizens due to receivership or insolvency. In those cases, the underwriting review period will remain 90 days.

Claims

Citizens cannot cancel or non-renew commercial residential policies until damage has been repaired or one year after the final claim payment, whichever is earlier, if such damage was caused by a covered peril.

Note: A different provision is applicable when damage is caused by a hurricane or wind loss following a declaration of emergency, and when the OIR has filed an order.

FIGA

An application for coverage cannot be denied solely because of unrepaired damage that is the subject of a Florida Insurance Guaranty Association (FIGA) claim.

Resources

On the Agents site, select Commercial > CR-M, CR-W, CNR-M or CNR-W, and you can view the updated required document guides by policy type on the right side of the page.

Policy form changes will be announced later this year.