Insurance commissioner pushes back on U.S. Senate probe
(The Center Square) – Florida’s Insurance Commissioner is pushing back on a U.S. Senate investigation into Citizens Property Insurance Company, which is backed by the state government.
“The committee is … increasingly concerned about Florida’s uniquely large and growing exposure to climate-related property losses, Citizens’ rapidly expanding market share, and state law allowing Citizens to levy special assessments on all policyholders in the event that losses exceed its ability to pay,” U.S. Sen Sheldon Whitehouse, D-R.I., said in a recent statement.