Citizens is required by its Charter Statute (law) to depopulate (shed its policies) as soon as possible since it was never intended or created to become the massive Insurance arm of the State. Many people receive notices stating that their policy will be assumed by a private Insurance Company unless the Insured “Opts Out”. Citizens letter to their current Insureds includes a bold statement or “warning” that if the Insured opts out and chooses to remain a Citizens Insured, that the policyholder could be responsible for an assessment equal to a large percentage of their premium if Citizens is unable to pay for all the losses caused by a disaster. Does this sound like a contradiction to anyone else????
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