Citizens Property Insurance Corporation Board of Directors public meetings in 2020
5 substantive meetings from 2020, with official agendas or minutes and plain-English summaries.
Citizens Property Insurance Corporation Board of Directors
The Board of Directors will meet to consider several voteable items including the proposed 2021 budget, 2021 officer appointments, and a proposed RFP. The meeting will also include reports on third quarter financials, depopulation updates, and commercial rate implementation.
- 2021 Officer Appointments (Voteable)
- Proposed RFP (Voteable)
- Proposed 2021 Budget (Voteable)
- Third Quarter Financials (Voteable)
- Oubre Settlement Update (Executive Session)
The Board unanimously approved the 2021 budget and the slate of company officers for the coming year. Members also approved the third quarter 2020 financials and authorized a potential RFP for catastrophe claim vendors.
- Approved 2021 budget (unanimous)
- Approved 2021 company officer appointments (unanimous)
- Approved third quarter 2020 financials (unanimous)
- Approved potential RFP for catastrophe claim vendors (carried)
- Approved 2021 Board meeting schedule (adopted)
- Approved September 2020 meeting minutes (unanimous)
Citizens Property Insurance Corporation Board of Directors
The Board of Directors will meet to review financial reports and consider several voteable items. These include the 2021 assessment rate, a proposed commercial rate filing, and the 2005 deficit re-certification.
- Vote on Proposed Commercial Rate Filing
- Vote on 2021 Assessment Rate
- Vote on 2005 Deficit Re-Certification
- Vote on Depopulation 2020
- Review of July 2020, 1st Quarter, and 2nd Quarter Financials
The Board approved a 2.7% overall increase for commercial rate filings and set the 2021 assessment rate at 2.49%. Members also approved the 2020 first and second quarter financials and the depopulation of 4,000 policies.
- Approved March 2020 meeting minutes (unanimous)
- Approved Depopulation Round 14 to offer 4,000 policies for removal to Safepoint Insurance and Southern Fidelity (6-4)
- Approved commercial rate filing with 2.7% overall increase, 0.2% FAIR Plan decrease, and 17.7% Coastal Plan increase (unanimous)
- Approved 1st Quarter 2020 financials (unanimous)
- Approved 2nd Quarter 2020 financials (unanimous)
- Approved re-certification of 2005 deficit at $1.358 billion (unanimous)
- Approved 2021 Assessment rate at 2.49% (unanimous)
Citizens Property Insurance Corporation Board of Directors
The Board of Directors will meet to review management reports, financial statements, and audit results. Key items for potential board action include the 2021 assessment rate and the 2020 depopulation plan.
- Vote on 2021 Assessment Rate
- Vote on 2020 Depopulation plan
- Review of 1st Quarter 2020 Financials
- Review of 2019 Statutory and GAAP Audit Reports
- Discussion of 2005 Deficit Re-Certification
The Louisiana Citizens Property Insurance Corporation Board of Governors meeting on July 9, 2020, could not hold a formal meeting because there was no quorum present.
Citizens Property Insurance Corporation Board of Directors
The Louisiana Citizens Property Insurance Corporation Board will vote on the 2020/2021 reinsurance update, a CAT vendor RFP selection, and a personal lines rate filing. They will also consider 2019 year-end financials and an audit update. An executive session is scheduled for legal and HR matters.
- 2020/2021 Reinsurance Update
- CAT Vendor RFP - Vendor Selection (voteable)
- Personal Lines Rate Filing Update (voteable)
- 2019 Year End Financials (voteable)
- Oubre Settlement Update (executive session)
The Board of Governors approved the 2019 year-end financial statements for filing with the Louisiana Department of Insurance. The Board also approved a selection of vendors for catastrophe-related services, including administrative, adjusting, and call center providers.
- Approved January 9, 2020 meeting minutes (unanimous)
- Approved CAT Vendor RFP selections for administrative, adjusting, and call center services (unanimous)
- Approved 2019 year-end financials and filing with the Louisiana Department of Insurance (unanimous)
Citizens Property Insurance Corporation Board of Directors
The Board of Directors will meet to review the 2020 reinsurance market strategy and depopulation updates. The agenda includes votes on a catastrophe vendor RFP and a personal lines rate filing proposal.
- Vote on Catastrophe Vendor RFP
- Vote on Personal Lines Rate Filing Proposal
- CEO report on 2020 reinsurance market and strategy
- Review of financials and management report
The Board unanimously approved a proposed personal lines rate filing and the RFP process for catastrophe claims administration vendors. The Board also approved the minutes from the November 26, 2019 meeting.
- Approved minutes of November 26, 2019 meeting (unanimous)
- Approved CAT Vendor RFP and processes for catastrophe claims administration vendors (unanimous)
- Approved submission of proposed personal lines rates to LDOI, including a 0.5% increase in FAIR Plan and 0.1% increase in Coastal Plan (unanimous)