If your book includes Florida commercial property, the name Citizens Property Insurance Corporation is likely a daily fixture in your office. Whether you’ve used it as a safety net when admitted capacity evaporated or lost a hard-fought wind risk to its pricing, Citizens has been the gravitational center of the market.
That reality is currently shifting as Florida Senate Bill 1028 ushers in a fundamental reset designed to narrow eligibility and push qualified commercial risks back into the private sector. This isn’t a “wait and see” policy change. It’s going to land on your desk in the form of renewal disruptions and tougher client conversations very soon.
Citizens was never intended to be Florida’s dominant wind risk carrier. However, as private market pricing climbed, it became the default home for hard-to-place risks. Sean Lorey, VP, Property Broker at Jencap, notes that over time, “Citizens grew far beyond its original footprint because private markets simply couldn’t compete with its subsidized rates.”
This growth created a massive concentration of risk. Policymakers now realize that a single major storm could put systemic strain on the state’s finances. SB 1028 is the tool they are using to de-risk the state by moving eligible policies back into the broader insurance ecosystem.
When legislation moves this fast, rumors sometimes outpace the facts. Here is the actual breakdown of what this bill changes and, perhaps more importantly, what it leaves untouched.
The Functional Changes:
According to Lorey, we are looking at thousands of coastal risk policies that will suddenly need new homes. “The volume shift will be meaningful,” he explains. “We’re expecting a real surge in the Florida commercial space as these accounts transition.”
What Stays the Same:
As SB 1028 moves forward, the clearinghouse will become a common term in your workflow. Think of it as a digital review stage where private carriers can claim risks before they are allowed into Citizens.
It’s vital to remember that the clearinghouse is a review mechanism, not a distribution mandate. It doesn’t dictate who negotiates your terms or how you structure a program. In a shifting market, your edge won’t come from a specific platform, but from your own expertise and the strength of your carrier relationships.
With SB 1028 in its final legislative stages, implementation is expected to move quickly once the ink is dry. If you wait for the renewal notices to hit, you’re already behind the curve.
“We want you to be ahead of this shift,” Lorey says. “Being early allows for proactive marketing. If you’re reactive, you’re just scrambling under time pressure.” As these accounts flood the private market, underwriting discipline isn’t going to soften. Carriers will still be picky about roof age, COPE data, and loss history.
To protect your renewals, start documenting and marketing these accounts now.
At Jencap, we’ve spent years competing alongside and against Citizens. We understand how to bridge the gap using layered structures and surplus lines capacity. As the market rebalances, the price gap between Citizens and private carriers is going to close, creating a new window of opportunity for agents who are prepared.
Reach out to our Florida property team today to review your Citizens-placed accounts before the legislative shift hits your desk.
When does this start?
Implementation is expected shortly after the bill passes the current session.
Is everyone getting kicked out of Citizens?
No, only those who meet the new, stricter criteria for private-market eligibility.
Will my clients pay more?
It depends on the risk, but generally, private-market wind risk coverage carries different pricing models than Citizens.
Do I have to use a specific wholesaler?
Absolutely not. You maintain full control over your partnerships.