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Citizens Property Insurance CEO resigns

Scott R. Wallace, president and CEO of Citizens Property Insurance, has resigned after a six-year stint overseeing the state-run property insurer of last resort.

Wallace tendered his resignation in a letter Friday to Citizens chairman Carlos A. Lacasa. In his letter, Wallace said he would stay for a transition period of 90 days as specified under his contract, but he gave no reason for his departure.

Lacasa praised Wallace for leading Citizens "through a complex ramp-up of the infrastructure needed for Citizens to provide the services and possess the claims payment ability that is so essential to our state's housing industry."

Citizens is the largest insurer statewide with nearly 1.5 million policies.

Citizens Property Insurance CEO resigns 01/09/12 [Last modified: Monday, January 9, 2012 6:14pm]
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