Established in 2002 by the Florida Legislature, Citizens Property Insurance Corporation serves as Florida's insurer of last resort. Its primary mission is to offer property and casualty insurance to Florida residents and businesses who cannot secure coverage from private insurers. As a government entity, it is not-for-profit and tax-exempt, operating under the oversight of the Florida Governor, CFO, President of the Senate, and Speaker of the House. The corporation plays a crucial role in Florida's volatile insurance market, particularly in areas prone to natural disasters like hurricanes, while also actively working on "depopulation" programs to move policies back into the private insurance sector whenever possible.

Founded in

United States