Common use of Depopulation and Takeouts Clause in Contracts

Depopulation and Takeouts. The Florida Legislature authorized Citizens to develop a Depopulation Program to reduce the number of property owners who have insurance coverage through Citizens by encouraging new or existing private insurance companies to take on Citizens policies. Citizens expects Firms to be familiar with this process as described in Citizens’ Enabling Statute, F.S. §627.351(6)(a)-(ff); and Depopulation of Citizens F.S. §627.3511. Counsel is also expected to be familiar with Citizens’ internal procedures regarding depopulation and takeout carriers. A current list of takeout carriers can be found at: xxxx://xxx.xxxxxxxxxxx.xxx. Counsel should check these listings on a regular basis. The list provides a quick reference of other insurance carriers that may be clients of your Firm.

Depopulation and Takeouts. The Florida Legislature authorized Citizens to develop a Depopulation Program to reduce the number of property owners who have insurance coverage through Citizens by encouraging new or existing private insurance companies to take on Citizens policies. Citizens expects Firms to be familiar with this process as described in Citizens’ Enabling Statute, F.S. §627.351(6)(a)-(ff); and Depopulation of Citizens F.S. §627.3511. Counsel is also expected to be familiar with Citizens’ internal procedures regarding depopulation and takeout carriers. A current list of takeout carriers can be found at: xxxx://xxx.xxxxxxxxxxx.xxxhttp://www.citizensfla.com. Counsel should check these listings on a regular basis. The list provides a quick reference of other insurance carriers that may be clients of your Firm.