Fill out this form to email this article to a friend
Heads up
Citizens to hold off talks on insurance surcharge
By Times Staff Writer
Published March 28, 2005
The board of Citizens Property Insurance has a full agenda at its Wednesday meeting, but the item with the greatest effect is on hold.
Citizens, the state-run insurer for those who cannot find property coverage on the open market, is running a deficit of about $525-million in its high-risk account. That could mean all property owners statewide would be assessed an average surcharge of 7 percent on their insurance premiums.
However, auditors are not expected to sign off on the deficit projection before mid April so the board isn't likely to act on the matter this week. Board members also are awaiting to see if state legislators intend to weigh in with financial relief that would negate the need for an assessment.
Among other issues, the board will consider proposals from four insurers interested in getting incentives to take policies out of Citizens. It also will review its overhauled claims-handling process and discuss its catastrophe plan for the 2005 season.
[Last modified March 25, 2005, 22:29:02]
Share your thoughts on this story
|
News
Fifty years ago, they were screwed-up kids sent to the Florida School for Boys to be straightened out. But now they are screwed-up men, scarred by the whippings they endured. Read the story and see a video and portrait gallery.
Print
Email story
Comment
Email editor
