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A Different PC

Florida's state-backed insurer, Citizens Property Insurance Corp., saw its policy count exceed 1.22 million last week, adding over 5,000 new policies.

This growth comes despite recent efforts to reduce its customer base through a "depopulation" program aimed at shifting policies back to the private market.

Citizens, originally created as a last resort for property owners unable to find coverage elsewhere, has become the state's largest insurer due to private companies dropping policies and increasing rates amid financial struggles.

Although officials don't anticipate private insurers taking on more policies during hurricane season, Citizens CEO Tim Cerio remains optimistic, predicting a potential drop below 1 million policies by year-end.