Is my policy going to be the same?

The policy remains the same for the remainder of the current term and Citizen's continues to process any policy changes.

What happens if there is a claim?

Northern Capital Select is responsible for any claims that occur after the December 17th assumption date.

Will my premiums remain the same?

There will be a 10% decrease upon renewal of your policy.

How long does Northern Capital Select have to keep the policy?

3 years

Who is Northern Capital Select Insurance?

Northern Capital Select Insurance Company is an affiliate of the Northern Capital Inc. holding company. Other affiliates of the holding company include Northern Capital Insurance Company, Northern Capital Management, Inc. and Keystone Adjusters, Inc.

Northern Capital Select recently received a Certificate of Authority from the Florida Office of Insurance Regulation and has been approved to “takeout” 50,000 policies from Citizens Property Insurance Corporation beginning on December 17, 2007.

Northern Capital Management Inc. is the managing general agent for Northern Capital Select Insurance Company and handles all marketing, risk underwriting and policy administration functions. Keystone Adjusters, Inc. will adjust and service all claims for Northern Capital Select.

What is depopulation?

Section 627.351(6)(g)3.a., Florida Statutes creates a depopulation program to reduce the number of property owners who have insurance coverage through Citizens Property Insurance Corporation. New or existing private insurance companies are encouraged to take on policies currently covered by Citizens to transfer policies back to the private market. This benefits all Floridians by preventing or reducing assessments charged to all property insurance consumers.

What is “assumption?”

Assumption is the term used to describe the process in which a participating insurance carrier takes on or “assumes” policies currently covered by itizens. Any active Citizens policy may be selected for assumption.

If my policy is assumed, how will I be notified?

You will receive a notice in the mail from the insurance carrier that would like to assume your policy. The insurance carrier is required to mail the notice 30 days before the assumption date.

If I don’t want my policy to be assumed, can I stay with Citizens?

Yes. The notice you receive by the insurance carrier has a form you can complete and return if you do not want your policy assumed. If you no longer have this notice, you can find a copy posted at http://www.citizensfla.com/about/depopinfo.cfm . You may also email us at depopulation@citizensfla.com. Your email must include the name that appears on your policy, address of the property insured by the policy, your
policy number, and the name of the assuming carrier. Without this detail we will not be able to process your request. Please enter Assumption in the subject line.

What if my policy is assumed, can I still choose to remain with Citizens?

Yes. If your policy is assumed you will receive an assumption notice stating:
You have 30 days from the date of assumption to decline. Please contact your agent by (insert date) if you do not want to participate in this assumption. Your agent's information is listed at the bottom of this notice.
It is very important to make sure you contact your agent and request you remain with Citizens within 30 days of receiving the confirmation you have been assumed.

What is the Financial Stability Rating (FSR) of Northern Capital Select?

Northern Capital Select has received a FSR of “A” Exceptional from Demotech, Inc. and has unencumbered capital and policyholder surplus in excess of ten million dollars.