Florida regulators mull lifting $700,000 policy cap on Citizens

During a Citizens committee meeting this week, OIR deputy commissioner Susanne Murphy said that the department is assessing the possibility of lifting the cap in additional counties. It was noted that state law would allow the decision, but only if regulators can prove that “there is not a reasonable degree of competition” in those counties.

News Service of Florida reported that the clause was what allowed the $1 million coverage limit in Miami-Dade and Monroe counties.

“Whether there’s enough data to support that finding is what we’re trying to determine,” Murphy said to members of the Citizens Market Accountability Advisory

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