Florida's Citizens Property Insurance seeks double-digit rate hike approval.

Florida's Citizens Property Insurance is seeking a double-digit rate increase for homeowners and other personal lines policies, with an average increase of 14.2% statewide. The proposal has been approved by the Citizens Board of Governors but still needs regulatory approval. The Florida Office of Insurance Regulation will hold a meeting to hear testimony from the company and receive public comment on the proposed rate filings. Policyholders in the Tampa Bay area could see increases ranging from 12.2% to 15.3%.