Florida House Speaker Designate Will Weatherford Asks Citizens Property Insurance to Delay Surplus Note Depopulation Program Implementation Pending Legislative Review
Oct 6, 2012
Expressing concern that Citizens Property Insurance Corporation’s (“Citizens”) proposed Surplus Note Depopulation Program (“Program”) could be fully implemented before the Florida Legislature has an opportunity to evaluate it, Florida House Speaker Designate Will Weatherford sent a letter to Citizens Chairman Carlos Lacasa yesterday, October 5, 2012, adding his name to a growing list of policymakers advocating a delay of the Program’s final approval.
In his letter, Speaker Designate Weatherford cautioned ” . . . actions not contemplated by the Legislature that may be outside (Citizens’) Board’s legal authority are subject to legal challenge and such unnecessary litigation could result in significant long-term uncertainty for the policyholders across Florida to whom we are all accountable.”
A copy of the letter is attached for review.
Hyperlinks to media coverage of the development are provided below.
- Blog: Weatherford to Citizens Insurance: Put the brakes on $350M loan program
- Weatherford wants Citizens’ to wait on lawmakers
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