Insurer Stripped Policyholders Of $190M In Rebates, Suit Says

Law360, Miami (March 1, 2013, 7:40 PM EST) -- Citizens Property Insurance Corp. was hit with a class action in Florida state court Wednesday alleging the insurer violated hundreds of thousands of policyholders' contracts through a reinspection program that rescinded upward of $190 million in premium credits.

Florida statute requires insurers to provide discounts on premiums to policyholders who agree to have their homes inspected to prove they have certain construction features to protect from windstorm damage. But in an effort to drum up revenue, lead plaintiff Patricia Asseff alleges Citizens improperly applied new standards...
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