Posts Tagged ‘citizens property insurance corp’

Triad CEO Glisson Appointed to Board

May 15th, 2012 Comments off

InsuranceNewsNet says Don Glisson, Jr. Chairman and CEO of Triad Financial Services has been appointed to the Board of Governors of the state-run Citizens Property Insurance Corp. by Florida Chief Financial Officer Jeff Atwater. Citizens offers insurance to homeowners who cannot obtain coverage through private markets, many of whom live in manufactured housing communities, often on the coast where they are vulnerable to hurricanes. Triad is the oldest manufactured housing finance company in existence. In June of 2010 Glisson was named by the Jacksonville Business Journal as a “Ultimate CEO.” A May 8, 2012 story by told how Citizens, which is now the largest insurer in the state with nearly 1.5 million policies, is reducing its client base so private insurers will return to the market.

(Photo credit: Triad Financial Services)

MHC Residents Upset with Insurer

April 25th, 2012 Comments off

Citizens Property Insurance Corp., created by the state to insure manufactured home owners not eligible for private insurance, is coming under fire from the homeowners for raising premiums while cutting coverage. FloridaToday tells Citizens insures 4,500 of the 4,900 homesites in Barefoot Bay and is now the largest property insurer in the state with 1.5 million policies. The community, located at the southern tip of Brevard County, south and east of Orlando, is the largest MHC in the state, as over 300 MHC residents packed a community center at Barefoot Bay to hear Citizens justify ending coverage for carports and screens while raising premiums an average of ten percent. Many were upset hurricane-hardening measures did not reduce their premiums. Christine Ashburn of Citizens said there were no studies to indicate those measures reduce damage to MH during a hurricane. Monte Stevens with the Florida Office of Insurance Regulation, says insurance availability is a major issue for traditional homes as well as MH, and the state is trying to lure more insurers in an attempt to lower premiums. He also says Barefoot Bay has been undercharged in the past. Members of the homeowners association say they will research the possibility of starting their own insurance company.

(Photo credit: FloridaToday/Tim Shortt—MHC residents at meeting)