The Real Deal Miami

Citizens approves cut recommendations

November 15, 2011 12:17PM

The board of Citizens Property Insurance, which had faced a deadline
from Gov. Rick Scott to engineer a proposal to cut down its size by
early December, has approved recommendations to do so, according to the
South Florida Sun Sentinel. The proposals would give Citizens the
ability to cut its size while likely raising rates, including the repeal
of a law that limits rate hikes to 10 percent a year. The recommendations include additional inspections that would increase
premiums. [Sun