The state’s Citizens Property Insurance Corp. added nearly 4,000 policies last week as it neared a total of 1.236 million policies.
Citizens had 1,235,987 policies as of Friday, up from 1,232,163 policies a week earlier and 1,228,438 policies two weeks earlier, according to data posted on its website.
The policy count, however, is expected to decrease this week because of what is known as a “depopulation” program.
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Seven private insurers have received state approval to assume up to 200,000 policies from Citizens, though the actual number likely will be lower.
Citizens reached as many as 1.412 million policies in fall 2023 before seeing decreases because of earlier rounds of the depopulation program, which is designed to move customers into the private market.
State leaders want to shrink Citizens, at least in part because of financial risks if major hurricanes hit the state.
Citizens, which was created as an insurer of last resort, became the largest property insurer in Florida during the past three years as private carriers dropped customers and raised rates because of financial problems.
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