Overextension worries Florida’s Citizens Property Insurance
The number of Florida homes and
businesses insured by Citizens Property Insurance
Corp. is growing faster than expected, exposing
taxpayers to greater risk.
Citizens – the state-backed insurer – held policies
on 1,151,319 properties at the end of June.
That’s about 110,000 more policies than the insurer
budgeted for, chief executive Scott Wallace told the
company’s board of governors Thursday in
Orlando.