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From Backstop to Market Participant: Reassessing Citizens’ Role
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Introduction
Citizens’ Original Statutory Purpose
How Citizens’ Statutory Role Expanded
2007: From Availability to Price
2007: Competitive Pricing and the Rate Freeze
2008: Extending the Freeze—and Reconsidering the Mission
2009: The Glide Path Toward Actuarially Sound Rates
The Noncompetitive Standard
Why Citizens Grew: Market Failure Compounded by Statutory Structure
Florida’s Recent Reforms Changed the Market
A Smaller Citizens Is Not Necessarily a Residual Citizens
Catastrophe Risk…
The skinny
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