Friday, March 2, 2012

Say Something About Florida's Citizens

Today's Insurance Journal is requesting that someone say something nice about Florida's insurance market.  Opinions of Florida-only property/casualty insurance agents need only apply

Here I provide some data analysis instead....

What can we learn about Citizens Property Insurance Corporation given the data they provide?  Can we discredit any claims?  Create some new ones?  Perhaps only make the information a bit more user friendly?   My next several posts will be an attempt to answer these questions.

I'll start here...

As we all know the total number of policies held by Citizens has increased.  Below, data is taken from Monthly Snapshots from the Citizens' website.

Policies are divided into three general accounts: Private Lines account (PLA), High Risk Account (HRA; but what is now known as Coastal Account), and Commercial Lines Account.  Below shows that substantial changes have been made over time as to how much each account makes up the whole.

The line graph is summarized by the following pie graphs.  While the CLA has remained at roughly 1% of the total policies, the PLA and HRA have switched places.  Where the HRA lost policies, the PLA gained just about as many.  
(3/3/12: The title in the graph below was edited from the original.  The original read 2010, which was a typo.)


  1. Perhaps a more useful view would be to show how the HRA/Coastal Account has remained somewhat stable since 2007 whereas the PLA has grown quite significantly?

  2. I am not saying that you are wrong, but why would that be more useful?

    In any case, I don't know that your observation is in line with the data. Both accounts seemed to change by the same magnitude but in opposite directions. In 2007, the HRA is 30% of the total and PLA is ~70%. In 2009, The HRA increased to 40% while the PLA decreased to 60%. By 2011 (note the typo in the chart title that I just made note of), both accounts are back to where they were in 2007, 30% and ~70%, respectively.

    Thanks for the comment! The discourse is always a great help =)


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