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Citizens prepares to shift more insurance clients to private firms

Citizens prepares to shift more insurance clients to private firms

Citizens prepares to shift more insurance clients to private firms
News from NOLA.com:

Citizens Property Insurance Corp. officials said Friday they are looking to shift more homeowners policies from the state-run company to the private market, where three insurers have expressed interest.

Vijay Ramachandran, the Citizens vice president who oversees the process of reducing the company’s volume of business, said the three companies are: Lighthouse Property Insurance Co., which is based in Louisiana and has administrative offices in Orlando, Fla.; Occidental Fire and Casualty Co. of Raleigh, N.C.; and Capitol Preferred Insurance Co. of Tampa, Fla.

Ramachandran said Occidental and Lighthouse have been involved in taking over some of Citizens’ polices in the past. Capitol’s sister company, Southern Fidelity Insurance Co., also has experience in assuming some Citizens homeowner policies, he said.

Ramachandran said this is …………… continues on NOLA.com
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