Taxpayer-Funded Property Insurance Corporation?
Senator J.D. Alexander ran an amendment to this year’s Senate property insurance bill to underscore a point he has been making for quite some time– if Citizens Property Insurance Corporation does not charge premiums commensurate with its risks, the shortfalls in the form of assessments in essence are a form of tax on all Floridians. The amendment would change the name of Citizens Property Insurance Corporation to Taxpayer-Funded Property Insurance Corporation. It will be interesting to see if the amendment sticks around as the property bill heads to the Senate floor. If so, it would make for an interesting logo contest….