Slide Insurance Company Approved to Assume 50 Citizens Policies

The Seal of the State of Florida, featuring a central shield with a sun rising over a body of water, surrounded by a wreath and the words "SEAL OF THE STATE OF FLORIDA" and "IN GOD WE TRUST".

Seal of the State of Florida

OFFICE OF INSURANCE REGULATION

MICHAEL YAWORSKY

COMMISSIONER

Index: OIR 2026-30

IN THE MATTER OF:

CASE NO.: 402722-26-CO

SLIDE INSURANCE COMPANY

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CONSENT ORDER

THIS CAUSE came for consideration as a result of SLIDE INSURANCE COMPANY's ("SLIDE") proposal to assume selected commercial lines policies from CITIZENS PROPERTY INSURANCE CORPORATION ("CITIZENS"), which was submitted to the FLORIDA OFFICE OF INSURANCE REGULATION ("OFFICE") for its review on or about February 28, 2026. Following a complete review of the entire record and upon consideration thereof, and otherwise being fully advised in the premises, the OFFICE hereby finds as follows:

1. The OFFICE has jurisdiction over the subject matter and the parties herein.
2. CITIZENS has been established in accordance with the provisions of section 627.351(6), Florida Statutes (2025),1 as amended, to provide insurance for residential and commercial property qualified risks under circumstances specified in the statute.
3. The Florida Legislature enacted sections 627.351(6)(q)3.a. and 627.351(6)(ii)3. to encourage and provide a means for the depopulation of CITIZENS. Pursuant to this legislation, CITIZENS submitted a depopulation plan titled "Citizens Property Insurance Corporation Depopulation Plan" ("Plan"), which the OFFICE approved and adopted by Order No. 401992-25,

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1 All statutory citations contained herein refer to Florida Statutes (2025), unless otherwise noted.

on October 21, 2025. SLIDE shall abide by the terms and conditions of the Plan and section 627.351(6)(ii)3. as a condition for the issuance of this Consent Order.

1. SLIDE is a Florida-domiciled property and casualty insurance company authorized to transact insurance in the state of Florida.

2. On or about February 28, 2026, SLIDE submitted a proposal to assume selected policies from CITIZENS. The policies are expected to be assumed on or about July 21, 2026, and the proposal provides for an assumption of up to 50 policies, consisting of 20 commercial residential multiperil and 30 commercial residential wind-only policies from the CITIZENS' Account.

3. SLIDE understands that the selected policies to be assumed from CITIZENS on July 21, 2026, or at a later date approved by the OFFICE and CITIZENS, will not be subject to any incentive or bonus plan, whether statutory or otherwise.

4. Coverage offered by SLIDE must be "comparable coverage" as required by section 627.351(6). SLIDE cannot establish comparable coverage through the offer of optional endorsements. Comparable coverage means, at a minimum, that the offer of coverage, without endorsements, include the same major covered perils at substantially similar levels of coverage as that already provided by CITIZENS. The premium calculation used to determine the 20% eligibility threshold detailed in section 627.351(6) must be calculated using offers of coverage that are comparable without the need to offer additional terms or endorsements.

5. Because of the potential harmful impact to Florida policyholders, SLIDE shall not make take-out offers to CITIZENS policyholders that are more than 40% higher than the policyholder's estimated renewal premium with CITIZENS. SLIDE must use rates that have either been approved by the OFFICE or rates that have been filed with the OFFICE as "use and file"

prior to the date by which SLIDE must provide to CITIZENS its preferred policy selections and estimated renewal premiums for the subject assumption period as specified in the 2026 Assumption Calendar published by CITIZENS. The estimated premium offered by SLIDE must reflect the cost of an offer of comparable coverage.

1. SLIDE is responsible for ensuring that it has entered or will enter into appropriate agreements with CITIZENS to effectuate the assumption of policies as authorized by this Consent Order. By entering into this Consent Order, SLIDE represents that it will comply with any such agreements between it and CITIZENS.

2. SLIDE must timely provide to CITIZENS all information required by the 2026 Assumption Calendar published by CITIZENS. SLIDE acknowledges that neither approval by CITIZENS nor entry into this Consent Order by the OFFICE constitutes a guarantee that the above-referenced policies will ultimately be available to SLIDE for assumption from CITIZENS, as the availability of policies for assumption may vary over time.

3. SLIDE shall limit its actual assumption of policies from CITIZENS to the number and type of policies authorized by the OFFICE in this Consent Order. The OFFICE based its review on SLIDE's current and projected reinsurance program, catastrophe modeling, and financial statement projections, as well as the impact on policyholders. Such reinsurance program, catastrophe modeling, and financial statement profiles were based upon SLIDE's projected book of property policies, SLIDE's projected voluntary market writings, and the actual number of policies available in CITIZENS prior to the anticipated assumption date identified by SLIDE as satisfying its filed and approved underwriting guidelines.

4. SLIDE submitted the proposed reinsurance documentation and financial projections for the assumption of up to the number and types of CITIZENS' policies as set forth

in paragraph five (5) above. Each additional assumption of CITIZENS' policies by SLIDE shall be subject to advance written approval by the OFFICE.

1. SLIDE's acquisition of adequate reinsurance and maintenance of executed reinsurance agreements are material to the OFFICE's review and analysis of SLIDE's proposal to assume selected policies from CITIZENS and to the OFFICE's approval of assumptions in the proposal.

2. SLIDE expressly waives its right to any hearing in this matter, the making of findings of fact and conclusions of law by the OFFICE, and all other and further proceedings herein to which it may be entitled by law or by rules of the OFFICE. SLIDE agrees not to appeal or otherwise contest this Consent Order in any forum now or in the future available to it, including its right to any administrative proceeding, state or federal court action, or any appeal.

3. SLIDE represents that all explanations and documents made or submitted to the OFFICE as part of its proposal to assume selected policies from CITIZENS, including all attachments and supplements thereto, fully describe all transactions, agreements, and understandings relating to the assumption of policies from CITIZENS by SLIDE. However, all draft documents and non-executed agreements relating to SLIDE's plan shall not be deemed approved by this Consent Order until such time as executed agreements or final documents are submitted to and approved by the OFFICE.

4. The parties agree this Consent Order will be deemed executed when the OFFICE has signed a copy of this Consent Order bearing the signature of the authorized representative of SLIDE, notwithstanding the fact the copy was transmitted to the OFFICE electronically. SLIDE agrees the signature of its representative as affixed to this Consent Order shall be under seal of a Notary Public.

5. Each party to this action shall bear its own costs and attorney fees.

IT IS THEREFORE ORDERED that:

(A) Upon consideration of the proposal to assume selected policies from CITIZENS, including its attachments, the OFFICE approves the assumption of selected policies from CITIZENS, subject to adherence to the terms and conditions of this Consent Order by SLIDE.

(B) The OFFICE approves the assumption of CITIZENS' policies up to the amounts set forth above in paragraph five (5), in accordance with any agreements between SLIDE and CITIZENS, and this Consent Order.

(C) Regarding all reinsurance matters, SLIDE shall:

(i) Secure and maintain catastrophe reinsurance at such levels that are acceptable to the OFFICE but in no event less than that evidenced to the OFFICE in the proposal to assume selected policies from CITIZENS;

(ii) Notify the OFFICE of any termination of any of its reinsurance agreements. The notification shall be made to the OFFICE in writing 60 days prior to the effective date of any such termination; and

(iii) Comply with the requirements of section 624.610 with regard to all of its reinsurance arrangements.

(D) SLIDE shall participate annually in any examination of SLIDE's reinsurance program as requested by the OFFICE. Based upon the OFFICE's review of the models and plans, SLIDE may be required at the OFFICE's sole discretion to take corrective action to cure any overexposure identified by the OFFICE. Such action may include obtaining additional amounts of reinsurance coverage as directed by the OFFICE or suspending writing of any additional business, including the CITIZENS policies.

(E) Upon the expiration of the assumed CITIZENS policies, SLIDE shall provide coverage substantially equivalent to that afforded by CITIZENS at rates that have either been approved by the OFFICE or rates that have been filed with the OFFICE as "use and file," unless such policies are cancelled or nonrenewed by SLIDE for a lawful reason.

(F) At the time SLIDE assumes any policy of insurance from CITIZENS, SLIDE shall either obtain a new policy application from each affected policyholder or maintain in its files a copy of the policyholder's application on file with CITIZENS. If SLIDE chooses the former option, SLIDE may not initiate any retroactive increase in rates or premium or any retroactive decrease in coverage provided under the assumed CITIZENS policy (if applicable) as a result of the information obtained from or through the new policy application.

(G) For a period of three (3) years immediately following the date of entry of this Consent Order, SLIDE shall abide by the proposal to assume selected policies from CITIZENS in all material respects. Further, SLIDE shall abide by all terms of this Consent Order and all provisions of any agreements entered into with CITIZENS.

(H) Should the OFFICE determine SLIDE has failed to materially comply with the terms of this Consent Order, the proposal to assume selected policies from CITIZENS, including its attachments and amendments thereto as submitted to the OFFICE, or terms of any agreements with CITIZENS, SLIDE shall, upon receipt of notice of such material non-compliance, have 60 days to cure its material non-compliance. In the event SLIDE fails to cure any such material non-compliance within the 60-day period, SLIDE expressly agrees the OFFICE may enter an order directing it to immediately cease writing commercial or other lines of insurance within the State of Florida, imposing such other sanctions authorized by statute or rule, or imposing other restrictions as may be deemed appropriate by the OFFICE.

WHEREFORE, the assumption of up to 50 policies, consisting of 20 commercial residential multiperil and 30 commercial residential wind-only policies from the CITIZENS' Account, subject to the terms and conditions of this Consent Order, is hereby APPROVED.

FURTHER, all terms and conditions contained herein are hereby ORDERED.

DONE and ORDERED this 15 day of APRIL, 2026.

The seal is circular with a serrated edge. It features the text "OFFICE OF INSURANCE REGULATION" around the top and "STATE OF FLORIDA" around the bottom. In the center, there is a depiction of a building, likely the state capitol, surrounded by a wreath.

Seal of the Office of Insurance Regulation, State of Florida

Image: Handwritten signature of Michael Yaworsky

A handwritten signature in blue ink, appearing to read "Michael Yaworsky".

Michael Yaworsky, Commissioner

Office of Insurance Regulation

By execution hereof, SLIDE INSURANCE COMPANY consents to entry of this Consent Order, agrees without reservation to all of the above terms and conditions, and shall be bound by all provisions therein. The undersigned represents that they have the authority to bind SLIDE INSURANCE COMPANY to the terms and conditions of this Consent Order.

SLIDE INSURANCE COMPANY

[Corporate Seal]

Bruce Lucas, CEO and President

Slide Insurance Company

STATE OF Florida

COUNTY OF Hillsborough

The foregoing instrument was acknowledged before me by means of physical presence

or online notarization, this 15 day of April 2026, by Bruce Lucas

(name of person)

as Chief Executive officer for Slide Insurance

(type of authority: e.g., officer, trustee, attorney in fact) (company name)

[Notary Seal]

Notary Public Seal for Briana DeTuro, State of Florida, Commission # HH 571408, My Comm. Expires Jul 13, 2028. Bonded through National Notary Assn.

(Signature of the Notary)

Briana DeTuro

(Print, Type, or Stamp Commissioned Name of Notary)

Personally Known X OR Produced Identification _____

Type of Identification Produced _____

My Commission Expires: July 13, 2028

COPIES FURNISHED TO:

Judy Grunewald, Assistant Director

Depopulation & FMAP

Citizens Property Insurance Corporation

2101 Maryland Circle

Tallahassee, FL 32303

Judy.Grunewald@citizensfla.com

Bruce Lucas, CEO and President

Slide Insurance Company

4221 W Boy Scout Boulevard

Tampa, FL 33607

bruce@slideinsurance.com

Fred Karlinsky, Shareholder

Greenberg Traurig, P.A.

401 East Las Olas Boulevard

Suite 2000

Fort Lauderdale, FL 33301

karlinskyf@gtlaw.com

Jane Nelson, Deputy Commissioner

Property & Casualty

Office of Insurance Regulation

200 East Gaines Street

Tallahassee, FL 32399

Jane.Nelson@flor.gov

Bradley Trim, Director

P&C Financial Oversight

Office of Insurance Regulation

200 E. Gaines Street

Tallahassee, FL 32399

Bradley.Trim@flor.gov

Corey Hubbard, Chief Financial Analyst

P&C Financial Oversight

Office of Insurance Regulation

200 E. Gaines Street

Tallahassee, FL 32399

Corey.Hubbard@flor.gov

Jeffrey Joseph, Assistant General Counsel

Office of Insurance Regulation

200 E. Gaines Street

Tallahassee, FL 32399

Jeffrey.Joseph@flor.gov