The Real Deal Miami

Governor Crist ponders Citizens rate hike

March 10, 2009 11:09AM

Citizens Property Insurance, the state-run insurer of last resort, may raise rates for the first time since 2006, a move Governor Charlie Crist said he would consider. Legislators are trying to balance the insurer’s financial condition with a severe statewide recession. A three-year rate freeze will expire this year. Citizens must file its revised rate plan by July.