Changes in Depopulation Program
enero 21, 2015 - IE #003-15
To better inform policyholders about private-market offers, Citizens is changing the way it communicates about depopulation (also known as takeout and assumption) offers.
Updated Policyholder Encouragement Letter
Citizens has updated the encouragement letter that is sent to policyholders selected for assumption, and will mail these letters before a takeout company sends an assumption notice to the policyholders. A copy of the letter is provided in eDOCs (for policies in our legacy systems) or PolicyCenter® and on the Depopulation page of our website.
The letter advises policyholders of coverage comparison charts on the Office of Insurance Regulation’s (OIR) website. The letter also encourages policyholders to contact their agents to discuss details of the takeout offer and carefully consider this important insurance decision.
Citizens began mailing the updated encouragement letters to policyholders beginning with the assumptions scheduled for February 10.
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.