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Questions about Citizens Clearinghouse?

Adcock-Adcock Insurance Can Assist You in Finding Suitable Solutions

As a property owner you will not have to actively participate in the Clearinghouse Project. Our agency has the ability, dedication and responsibility to be your source of information if it appears that Citizens, the insurer of last resort, initially appears to be the only option presented.  We will submit all the documentation to the Clearinghouse on your behalf.  We are committed to make certain all consumers that qualify have access to broader coverage options, have additional insurance companies to choose from and will not be subject to the Citizens’ policyholder assessments.

You have heard the phrase, and have to be wondering, what is it? Does it affect me? We want to help you understand in simple terms what it could mean to you as a property owner.

First some facts:


The “Clearinghouse Project” is associated with Citizens Property Insurance Corporation. Citizens Property Insurance Corporation is the largest property insurer in the state of Florida.  As of July 31, 2014 they insure approximately 933,807 policyholders. They were established in 2002 after the four devastating hurricanes struck Florida leaving many insurance companies unable to pay the losses they incurred. That occurrence resulted in many of them having to make the difficult decision to abandon writing property insurance here. The State of Florida enacted a not-for profit insurance provider (Citizens) for the sole purpose of home owners to be able to purchase coverage. The intention was for it to be the “insurer of last resort”, anticipating that eventually new companies interested in writing property coverage in Florida would take on the risks. The lure of attracting the necessary numbers of insurance companies to Florida to alleviate the overwhelming numbers of policies being placed with the state run insurance company was unsuccessful. Therefore, the number of policies written through Citizens has continued to grow to a near unmanageable number in the event of a catastrophic occurrence(s). This is where every property owner is affected.

The state had to implement a type of relief fund, referred to as an “assessment”. Everyone insured with Citizens may be assessed up to 45% of their premium if the state is forced to pay for losses they are not financially able to pay. Additionally, policies written by Citizens Property Insurance Corporation do not provide coverage or offer options that are available by many insurance companies in the private sector. The availability of sinkhole coverage does not necessarily pertain to the differences between Citizens Property Insurance Corporation and companies in the private sector. However, that does not distract from the fact that Citizens is considered a “no bells or whistles” policy.

Clearinghouse Project Synopsis:


The problem still exists that many policies that are actually eligible for coverage through the private sector are unnecessarily being written and/or renewed with Citizens Property Insurance Corporation. This issue has continued to plague the state and consumers alike. It has become so apparent that a plan of action had to be developed. The Florida Legislature, Florida Senate, Speaker of the Florida House and the state’s Chief Financial Officer along with Citizens’ Board Members implemented a project that will officially begin January 1, 2014.  The solution is being called the Clearinghouse Project.

As information is updated from Tallahassee regarding the Clearinghouse, we will continue to keep you informed.

For more detailed information or for questions you may have please call our office or access the links provided above.

Contact Us Today
315 W. Fletcher Ave.
Tampa, FL 33612
Phone Number (813) 933-6691
Alternate Number (866) 933-6691
Fax Number (813) 932-6287

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Adcock-Adcock Insurance Agency
315 W. Fletcher Ave Tampa, FL 33612 | Driving Directions
Office: (813) 933-6691 | Toll Free: (866) 933-6691 |  Fax: (813) 932-6287
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