The state-backed Citizens Property Insurance Corp. faced 3,881 lawsuits in the first four months of 2022 as its customer numbers continued to soar.
The average of 970 trials per month was about 11.5% higher than the average of 870 trials per month during the same period in 2021, according to a report prepared for a meeting next week of the Council of Claims Committee. citizen governors. The insurer also had 18,455 lawsuits pending as of April 30.
“Citizens continue to experience an increasing trend of new lawsuits, primarily attributable to the increasing number of policies in place,” a summary of the report reads. “This also impacts pending volume as we continue to work through the backlog in pending (cases) created by the effects of the state court system’s prior COVID response with the temporary suspension of hearings. /trials of the courts.”
The total in the first four months of 2022 included 3,832 lawsuits involving residential properties. Of that number, 2,880 lawsuits came from Miami-Dade, Broward and Palm Beach counties, according to the report.
In a special legislative session last month, lawmakers took steps to reduce legal costs in the troubled property insurance system. The number of policies in Citizens grew by thousands a week as private insurers abandoned customers and sought steep rate hikes due to financial losses.
As of May 31, Citizens had 883,333 policies.