Citizens Board approves legislative package

in Uncategorized by

Meeting in Orlando, the governing board of Citizens Property Insurance Corp. approved a six-point legislative package to be submitted to lawmakers for consideration during the 2012 session. Modeled after a measure introduced during the 2011 session, (SB 1714), the plan calls for reining citizens coverage and speeding up the glide path by which the state-backed property insurer would raise rates to make its premiums actuarially sound. In addition, Citizens staff estimated that in-house efforts to limit exposure could reduce the potential maximum loss by more than $1.5 billion, a 7 percent reduction. Of that, $1.0 billion would be saved in coastal areas, a 15 percent cut.

Via The News Service of Florida.

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including SaintPetersBlog.com, FloridaPolitics.com, ContextFlorida.com, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.