SOURCE: The Florida Property & Casualty Association

May 31, 2012 10:46 ET

Approved Statement From the Florida Property & Casualty Association Regarding the Citizens Insurance Depopulation Program and the June 1, 2012 Depopulation Summit

TALLAHASSEE, FL--(Marketwire - May 31, 2012) - The Florida Property & Casualty Association supports the Governor's and the Citizens Property Insurance Corporation (CPIC) Board members' willingness to analyze and implement measures that will effectively depopulate CPIC and encourage growth of the private insurance market. It is important to educate consumers about the depopulation efforts in order to mitigate the potential for surprise and onerous assessments that Citizens may impose. The responsible depopulation of CPIC will focus on all companies that have the ability to help depopulate Citizens. The more inclusive the approach/plan the more capital that will come to the market, thereby creating competition and promoting greater private market availability for Florida homeowners.

-- The position set forth in this document is supported by the Homeowners Division of the Florida Property and Casualty Association, Inc.

The Florida Property & Casualty Association is an industry trade group comprised of Florida-based insurance companies and consulting firms doing business in the Florida market. Established in 1997, the organization seeks to promote a healthy, competitive insurance market in the State of Florida. Through its lobbying and communications teams, the FPCA works to educate Florida lawmakers, government regulators and consumers on issues and policies that affect property and casualty insurance. The FPCA is also a leading source for timely information on insurance legislation and regulation.