Citizens Property Insurance President Gilway Admits Mistake in Abolishing Office

Nov 29, 2012

The following article was published in The Insurance Journal on November 29, 2012:

Citizens President Gilway Admits Mistake in Abolishing Office

Citizens Property Insurance Corp. President Barry Gilway said Tuesday he made a “dumb decision” in how he went about abolishing the firm’s Office of Corporate Integrity earlier this year.

Gilway conceded it was a mistake to do away with the office in the midst of an attorney general’s investigation into alleged travel expense irregularities. He said he should first have taken action against underperforming employees in the office.

“Dumb decision? Yes,” Gilway told members of the insurer’s governing board.  “My decision? Yes.”

Gilway was hired less than six months ago after four decades in the private sector as an insurance executive. He said a number of needed safeguards were not in place at Citizens between 2004 and earlier this year, including no written policy on severance agreements.

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