Insurance NewsNet: Lawmakers leave out Citizens Property Insurance issues
June 1, 2022
With more than 850,000 policies, the state-backed Citizens Property Insurance Corp. has become an 800-pound gorilla in Florida’s troubled insurance market.
But you wouldn’t have known that as lawmakers passed bills during a special legislative session last week to try to shore up the industry.
Lawmakers did not make changes designed specifically to address issues such as Citizens’ growth and premiums, though parts of the overall legislation will affect Citizens like it does other insurers.
Sen. Jeff Brandes, a St. Petersburg Republican who is one of the Legislature’s most-hawkish members on bolstering the private industry, said during a meeting Monday that lawmakers were not doing anything to deal with the “radical growth” of Citizens.