As Floridians are dealing with the ongoing issues with the property insurance crisis, the state-backed "last resort" home insurance option is looking for approval to increase how much people will need to pay for coverage. On Thursday, Citizens Property Insurance Corporation sat before the Florida Office of Insurance Regulation (OIR) for a public rate hearing. At the meeting Thursday afternoon in Tallahassee, the corporations' top brass advocated raising rates at the maximum increase allowed under state law. CEO Tim Cerio says the number of Citizens policyholders has ballooned over the past two years, surpassing 1.3 million. Cerio says raising rates will help keep them afloat and bring competition back to the whole market, adding that Citizens has had "artificially low" rates. For more: https://www.wtsp.com/article/news/regional/florida/citizens-property-insurance-rate-change-proposal/67-1abc2515-e124-43e2-ac11-b705b12aed72 ►Subscribe: https://on.wtsp.com/youtube ►Website: https://www.wtsp.com/ ►Facebook: https://facebook.com/10TampaBay ►Twitter: https://twitter.com/10TampaBay