Observations and musings on Jacksonville Politics

Are Rate Increases of 60% Ahead for Citizens?


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.


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