While Citizens Property Insurance has been raising homeowners' rates, executives have been treated to big five-figure raises and cushy perks. 

A story in today's Tampa Bay Times highlights the company's cognitive dissonance, as it pleads poverty while its giving out huge financial rewards to execs.

From the story:

While Mother Nature has spared Florida from hurricanes since 2005, Citizens has taken in billions of dollars in premiums from homeowners. Citizens also received a $715 million taxpayer bailout and the promise of millions more if it ever runs out of money again. Awash in a record amount of cash and bolstered by a taxpayer safety net, the state-run insurer has been operating more like a private company than a tax-exempt government entity.

For the company's execs, that has meant pay raises, luxury hotel stays, international plane tickets, limousine rides and wine-fueled dinners — all paid with the corporate credit card.

Read more here.