Lawmakers back plans to cut Citizens Property Insurance
Jun 5, 2012
The following article was published in the South Florida Sun Sentinel on June 5, 2012:
by The News Service of Florida
Days after industry representatives called for higher premiums and other changes to state-backed Citizens Property Insurance Corp., 25 state lawmakers on Monday called on the insurer to cull its ranks, raise its rates and make other changes necessary to encourage private insurers to come back into the market.
On the heels of a workshop in Tampa on Friday, a group of Republican lawmakers sent an open letter to acting Citizens President and CEO Tom Grady, encouraging the former Naples Republican House member to stay the course in his quest to remove some of the nearly 1.5 million policies from the state-backed insurer.
“Citizens Insurance should move toward once again being the insurer of last resort – not the beginning of a government-created single-payer system that supplants the private sector,” the group said in a letter signed by three state senators and 22 House members.
View the original article here: http://www.sun-sentinel.com/business/fl-citizens-backers-20120605,0,4608310.story