Patriot Select Approved to Take Over 30,000 Policies from Florida's Citizen Property Insurance

Patriot Select has obtained regulatory approval to assume up to 30,000 personal residential insurance policies from Florida’s Citizen Property Insurance in the fourth quarter. This move represents a significant transfer of risk from the state-backed insurer to a private carrier, aiming to stabilize the Florida residential insurance market amid ongoing challenges. The transaction aligns with broader industry efforts to manage the risks inherited by government-related insurers and enhance market capacity through private sector participation.