The number of Citizens Property Insurance Corp. policies increased slightly last week, reaching 1,332,617, according to data posted on the insurer’s website.
That total, as of Friday, was up from about 1.331 million a week earlier and 1.325 million two weeks earlier.
Citizens, which was created as an insurer of last resort, has faced explosive growth during the past three years as private insurers have dropped customers and raised rates because of financial problems.
After reaching 1.412 million policies last month, the total dropped to 1.325 million amid what is known as a “depopulation” program aimed at shifting customers into the private market.
As illustrations of Citizens’ growth, it had 521,289 policies on Oct. 31, 2020; 725,942 policies on Oct. 31, 2021; and 1,111,283 policies on Oct. 31, 2022.
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