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CYPRESS PROPERTY & CASUALTY INSURANCE COMPANY

CYPRESS PROPERTY & CASUALTY INSURANCE COMPANY. Personal Lines Rate Hearing Homeowners Multi-Peril OIR File Number: FCP 12-07401 Room 116, Larson Building May 31, 2012. Summary & Agenda. Cypress Property & Casualty Insurance Company Overview

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CYPRESS PROPERTY & CASUALTY INSURANCE COMPANY

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  1. CYPRESS PROPERTY & CASUALTY INSURANCE COMPANY Personal Lines Rate Hearing Homeowners Multi-Peril OIR File Number: FCP 12-07401 Room 116, Larson Building May 31, 2012

  2. Summary & Agenda • Cypress Property & Casualty Insurance Company Overview • Started in 1999, two JUA takeout totaling 18,000 policies. • Organic growth to 70,600 Personal Lines policies as of April 2012. • Added Commercial small business general liability product in 2008 • Gained Commercial residential filing approval in 2010 • Goals & Objectives of Filing

  3. Rebuilding of surplus strengthens claims paying ability Influence of SB 1A - wind mitigation credits and presumed factor Inability to leverage legislative funding Managing transition from FHCF historic benefit to private reinsurance market @ higher ROL! Appropriate management of expenses while growing the business Source: Cypress P&C Annual Statement – P17 Ln26

  4. Filing Objectives • Target rates to be adequate and competitive in selected counties and territories - - - match up with distribution partners and market needs. • Expand in territories / counties previously limited due to inadequate ratesand dislocation of capacity. • Driving towards competitive HO6 program in many territories across the state. • Provide better and more appropriate coverage for customers versus a Citizens Policy - - - rates are usually the biggest challenge. Achieve Rate Adequacy Align with Cypress Distribution Partners Open territories & markets previously limited Become an alternative to Citizens for our agents and their customers

  5. All Charts After This Page Are For Reference Only - - - Do Not Prepare / Print out In Presentation

  6. Overall since 2008 Direct Written Premium has grown by 49% - All Lines HO Product Line expenses have increased 24% while premiums have grown over 30% during the same time frame. Source: Cypress P&C Homeowners Rate Filing Expense Analysis – Exhibit 5 Source: Cypress P&C Annual Statement – p17 ln6

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