Florida Insurance Consumer Advocate Sean Michael Shaw toldThe Palm Beach Post that lawmakers should let Citizens premiums increase by as much as needed to make the state-run insurer financially sound.
“Whatever the number is that Citizens needs to be at to be actuarially sound, that’s what I advocate,” Shaw said. (Listen here.)
A Citizens task force said that number could be as much as 30 percent statewide. CFO Alex Sink said making Citizens “actuarially sound” could mean a 60 percent jump for some homeowners along the coast, but that lawmakers should aim for less.
The full story here.