Premium Savings Due to AOB Reform
febrero 04, 2020
- Homeowners 3 – Special Form (CIT HO-3)
- Dwelling Property 3 – Special Form (CIT DP-3)
- December 1, 2019, through January 31, 2020, will be mailed the first two weeks in February
- February through November will be mailed during the renewal month
- Only policyholders recognizing a savings of $1 or more will receive the letter.
- Policyholders who do not receive a premium decrease would have paid more for their Citizens insurance this policy term had the Legislature not acted to reform the law regarding AOB.
- Additional savings are expected to be achieved in future years.
- The premium savings amount does not include surcharges or reflect any policy changes.
- The letters will be uploaded in PolicyCenter® within two weeks after each mailing.
- A Spanish version of the letter will print on the letter’s back side.
- The letters will include the Assignment of Benefits: What You Need to Know brochure.
- Assignment of Benefits page on the Public website
- Claim Process When an Assignment of Benefits (AOB) is Used graphic
- Assignment of Benefits: What You Need to Know updated brochure
- Personal Lines Bulletin: Rate and Form Changes dated September 30, 2019
- Agents and the public can Search Frequently Asked Questions for more information. Agents should log in to access agent-level information. Enter AOB in the Search field.
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.