Fla.’s Citizens Seeks To Shed P/C Policies
|By Gary Pinnell, Highlands Today, Sebring, Fla.|
|McClatchy-Tribune Information Services|
That's OK with legislators who have questioned for years whether the state should be exposed to
"The state has to get out of the insurance business and reduce taxpayers' exposure to potential payouts that Citizens cannot cover in the event of a major disaster," State Rep.
Why then, Gov.
In October, the insurance giant began mailing letters to 300,000 of its 1.5 million policyholders. Citizens wants to loan money to private insurers who will write policies to those 300,000, plus another 100,000 in December.
Insuring new construction at below-market rates is a disincentive to depopulation, Scott argued in his Cabinet meeting.
Citizens' staffers recommended third-party reviews earlier this month after lawmakers and elected officials like Chief Financial Officer
The loans are really just a corporate giveaway, said Sen.
Citizens board members voted unanimously to pay two separate companies
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