The state-run "insurer of last resort" plans to purchase about $200 million in additional coverage, spurred by "mounting losses" from claims unrelated to storms and litigation over those claims, as well as significant claim numbers from Hurricanes Irma and Michael.
"We're trying to protect our surplus, which we keep dipping into," Citizens spokesman Michael Peltier said.
The last time Citizens opted to purchase such insurance was in 2005. The reinsurance is part of $1.6 billion in coverage for inland claims prepared for the coming 2019 season, and there will be $1.4 billion in coverage for coastal claims as well.