The Florida Senate will try to entice private insurance companies to sell flood policies in the Sunshine State to homes that are vulnerable to storm surge.
Roughly 400,000 Citizens insurance policyholders may find themselves with a new property insurance company by the end of November.
Citizens Property Insurance Company continued down the path of raising rates for new policies Thursday during a conference call with the Actuarial and Underwriting committee.
When Governor Rick Scott rode the tea party wave into the governor’s house, he made no secret that one of his main targets to slowly get rid of was Citizens Insurance. The insurance company, owned by the state, will accelerate the process in the next few months.