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Article: Citizens growth called risky: All Floridians could pay if major storm hits.
- Article from:
- South Florida Sun-Sentinel (Fort Lauderdale, FL)
- Article date:
- May 13, 2007
CopyrightCOPYRIGHT 2007 South Florida Sun-Sentinal. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Kathy Bushouse
May 13--When Citizens Property Insurance Corp. started in 2002, the idea was the state-backed company would eventually shrink, insuring only those who absolutely couldn't find homeowner coverage anywhere else.
What a difference a new governor makes.
With Florida's homeowners facing crippling property insurance premium increases and more private insurers dropping policies or pulling out of the state, Gov. Charlie Crist began his term in January vowing to fix the insurance crisis. His philosophy: let Citizens, the state's insurer of last resort, compete with big private insurers.
Citizens already was the state's ...