Alex Sink: Stop this Citizens Insurance deal
Former CFO and potential Democratic candidate for governor has an op ed in today's Tampa Bay Times:
The recent Citizens Property Insurance deal with start-up insurance company Heritage Property and Casualty of St. Petersburg must be stopped immediately and thoroughly reviewed by our elected officials who appoint the Citizens board members. These officials include Gov. Rick Scott, Chief Financial Officer Jeff Atwater, House Speaker Will Weatherford and Senate President Don Gaetz.
As Florida's CFO from January 2007 to January 2011, I spent a great deal of time working with constituent groups to find ways to balance the need for Floridians to obtain affordable home insurance with the potential for potentially huge assessments that we could face from Citizens and the Florida Hurricane Catastrophe Fund after the next big hurricane. Over the weekend, I received my property insurance notification and was reminded that we are still being charged assessments from both Citizens and the catastrophe fund for the 2004 and 2005 storms!
The recent "deal" that was approved by the Citizens Board of Governors raises five major concerns....