Citizens Insurance, or Citizens, is the popular name for government established,
not-for-profit
A nonprofit organization (NPO) or non-profit organisation, also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in co ...
insurers
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
in
Florida
Florida is a state located in the Southeastern region of the United States. Florida is bordered to the west by the Gulf of Mexico, to the northwest by Alabama, to the north by Georgia, to the east by the Bahamas and Atlantic Ocean, and ...
and
Louisiana
Louisiana , group=pronunciation (French: ''La Louisiane'') is a state in the Deep South and South Central regions of the United States. It is the 20th-smallest by area and the 25th most populous of the 50 U.S. states. Louisiana is bord ...
. In Florida, the insurer is Citizens Property Insurance Corporation. In Louisiana, the insurer is the Louisiana Citizens Property Insurance Corporation. Both were established in their respective states as insurers of last resort. The Louisiana corporation is also known as ''Louisiana Citizens''
Neither of these is connected with for-profit insurers with similar names.
Florida
''Citizens Property Insurance Corporation'' was created in 2002 by the Florida state government to provide property
insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
for home-owners who could not obtain insurance elsewhere. It is a government-owned, not for profit, insurer of last resort.
Louisiana
From the website of the ''Louisiana Citizens Property Insurance Corporation'': "The Louisiana Citizens Property Insurance Corporation is a nonprofit organization created to provide insurance products for residential and commercial property applicants who are in
good faith
In human interactions, good faith ( la, bona fides) is a sincere intention to be fair, open, and honest, regardless of the outcome of the interaction. Some Latin phrases have lost their literal meaning over centuries, but that is not the case ...
entitled, but unable, to procure insurance through the voluntary insurance marketplace." Citizens has the ability to levy assessments against all other Property and Casualty insurance policies should needed capital be otherwise unavailable.
[Hemenway, Chad (December 20, 2011)]
Donelon: Decision Against La. Citizens a ‘Potentially Devastating Event’
Property Casualty 360°. Retrieved December 21, 2011
References
{{Reflist
External links
Citizens Property Insurance Corporation -- www.citizensfla.comLouisiana Citizens Property Insurance Corporation -- www.lacitizens.comCitizens Insurance -- citizensinsurance.net covering Insurance topics in Michigan, Louisiana, and Florida
* ttps://citizensinsuranceflorida.com/ Citizens Insurance Florida
Insurance companies of the United States