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I received a letter in the
mail from AIICFL...what does it mean? |
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It's good news for you! It means
your insurance policy has been selected to be taken out of the
government-run Citizens Property Insurance Company, and placed with
American Integrity Insurance Company of Florida. You do have a
choice regarding accepting this coverage change |
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Why is my policy changing
companies? |
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American Integrity has selected your policy as
part of the Depopulation program to reduce the policies insured by
Citizens. See below for more information on the Depopulation
program. |
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When is this
happening? |
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Letters will be sent to policy holders as soon as
we receive word that the assumption is approved. A mailing will
also be sent to all of the insurance agents that represent the
policyholders. |
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When will I know the exact
amount of my new premium? |
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When you receive your regular policy renewal
information, you will see the new premium quote. This will take
place about two months before your policy renews. |
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The word "assumption" appears
in the letter I received. What does "assumption"
mean? |
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Assumption is the term used to describe the
process in which a participating Takeout or Depopulation insurance
carrier takes on or "assumes" policies currently covered by
Citizens. Any active Citizens policy may be selected for assumption
by a Takeout or Depopulation insurance company. |
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What is a "Takeout" or
"Depopulation"? |
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The Florida Legislature created the state's
Depopulation program to reduce the number of homeowners who have
insurance coverage through Citizens Property Insurance Corporation,
the insurer of last resort. Under the program, new or existing
private insurance companies are encouraged to "take out" (take
over) policies currently covered by Citizens. The Takeout or
Depopulation process allows Citizens to transfer policies back to
the private insurance market. This benefits all Floridians by
preventing or reducing assessments charged to all property
insurance consumers. Florida's insurance market is made healthier
by Takeouts or Depopulation as new or existing companies offer
coverage for our state's growing number of residents. |
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Where should I send my premium
payments? |
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Once your policy reaches the end of its effective
date with Citizens, you will receive a bill from American
Integrity. You should send all payments to American Integrity. Many
policyholders have their insurance premium paid as a part of their
mortgage payment, and there will be no disruption to that process.
Your agent will fully understand how the payment process
works. |
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Will my coverage and premium
remain the same? |
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The policy you will be offered upon renewal will
be comparable to your current coverage with Citizens. This has been
APPROVED BY THE FLORIDA OFFICE OF INSURANCE REGULATION IN ADVANCE.
Your premium will differ from what your are currently paying with
Citizens based on the currently approved rates for American
Integrity. This premium could be higher or lower depending on your
location and other characteristics of your home. Your agent will
have a chance to fully review the coverage before you accept the
new policy. |
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What is "Consumer
Choice"? |
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On January 25, 2007, Governor Charlie Crist signed
sweeping, consumer-friendly insurance legislation that facilitates
American Integrity's ability to give you a chance to take your
insurance policy out of Citizens. A Citizens policyholder may elect
to remain covered by Citizens if his or her agent or the
policyholder wants the policy to stay with Citizens. |
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Aren't there some new laws
that effect my policy? |
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Yes, new laws were enacted by the Florida
legislature and were signed into law on January 25, 2007. For a
summary of the laws that passed, click here. |
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Can I keep my insurance
agent? |
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Yes, you can keep your agent. As a matter of fact,
your agent and 2,700 other agents in the state of Florida have
already agreed to transfer their customer's policies to Citizens.
They have also signed agreements with American Integrity to
represent you and other American Integrity policyholders. |
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Who is responsible for
administration of assumed policies? |
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In order to provide a seamless experience for all
policyholders, all assumed policies are administered by Citizens
until the end of the policy period. This means that you would call
the same phone number on your Citizen's policy if you had a claim
or needed to make a change to your policy. After your policy is
renewed with American Integrity, American Integrity will provide a
new phone number for any policy issues that occur from that point
forward. |
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Who is responsible for claims
payment for depopulated/assumed/ transferred polices? |
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Once the policy has been assumed, the new company
is responsible for paying all insurance claims for losses, which
occur on or after the assumption date. American Integrity has an in
house claims company to facilitate the handling of any loss you
incur. |
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Do I have a choice in this
matter? In other words, if my policy is targeted to be assumed, may
I reject coverage? |
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You may reject the offer of coverage by clipping
the coupon at the bottom of your letter and mailing to the address
on the letter. However, there are many reasons why you would want
to accept American Integrity's offer of coverage:
- Your insurance agent and 2700 other insurance agents are fully
familiar with American Integrity, and have chosen for your policy
to participate in the program.
- Our rates are lower than what you are currently paying
Citizens. Citizens' policyholders may experience higher charges
than policyholders at American Integrity if Citizens experiences a
deficit due to a catastrophe.
- Your current policy will be continued with no change in your
coverage.
- American Integrity intends to provide you with superior
customer service, efficient and fast policy service, and expedited
claims handling.
- American Integrity will offer quarterly, semi-annual, and
annual installment payment plans to assist you with budgeting your
premiums.
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