FL Regulators Holding Hearing On Home Rates

Tuesday, September 25, 2012

Orlando, Florida - There are many Florida citizens that are coming together in opposition of the most recent proposed rate increases offered by Florida's biggest homeowners insurance company. A public hearing was held in Miami, Fl by regulators trying to appease lawmakers and consumers of the Sunshine state. 

A New Port Richey, Florida Republican, Senator Mike Fasano, critiqued Citizens Property Insurance Corp for the recent increase in premiums.  He believes that Citizens raised premiums without going through the proper rate approval process.  Additionally, he cited the re-inspection program that has revoked discounts to many Floridians for strengthening their houses against natural disaster. 

Senator Fasano also complained about the out of line spending that Citizens officials were engaged in, including, expensive trips, hotel rooms and meals. 

"Citizens has filed a premium rate increase that, given they myriad negative circumstances surrounding this insurance company, is not warranted and, frankly, is the epitome of arrogance," Fasano said.

The CEO of Citizens, Barry Gilway, said that company officials always follow state law when they propose increases.  They are just trying to put the company on track to make sure they have enough money to pay for future disastrous claims. 

"We're not the enemy, "Gilway said.  "We're hired by and work for taxpayers and it's our obligation to do our very, very best to keep rates as affordable as possible."

We at PremierHomeownersInsurance.com would like to get any feedback available Floridians.  Please give us your thoughts on Citizens and how we can improve the homeowners insurance policies offered in our beautiful state.  Comment here today!

 

 

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