Who funds the Citizens Property Insurance Corporation?
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Citizens Property Insurance Corporation is a not-for-profit, tax-exempt entity created by the Florida Legislature. It is funded primarily by its policyholders' premiums, plus reinsurance and pre-arranged financing. If a major storm leaves it with a deficit, Florida law allows surcharges on Citizens policyholders first, followed, if needed, by emergency assessments on most property and casualty insurance policyholders in Florida. Compare private-market, specialty-market, and residual-market options with a licensed insurance agent.