home arrow home arrow Weatherford wants Citizens' to wait on lawmakers

Login Form

Lost Password?
No account yet? Register
Weatherford wants Citizens' to wait on lawmakers PDF Print E-mail
Written by Associated Press   
Sunday, 07 October 2012

will_weatherford.jpgTALLAHASSEE, Fla. (AP) _ The incoming Florida House speaker is asking the chairman of the state-backed Citizens Property Insurance Corp. to postpone a key depopulation strategy to give lawmakers a chance to review it.

Speaker-designate Will Weatherford wrote Citizens' board chairman Carlos Lacasa with concerns about the insurer's decision last month approving $350 million in low-interest loans for private insurers to relieve Citizens of thousands of policies.

Citizens' is Florida's largest insurer of businesses and homes with some 1.4 policyholders and has sought unsuccessfully for years to shed thousands of policies to reduce the liability it and its customers, who are on the hook financially if the company fails to pay claims in the wake of a destructive storm.

Weatherford said Citizens' may not have the legal authority to start such a program.

Comments (0)Add Comment

Write comment
This content has been locked. You can no longer post any comments.

< Prev   Next >


AP Latest News Video

Alcohol Awareness Month


Which Governor Provided The Most Opportunities for Black Businesses?
Microsoft reveals Siri-like Windows Phone featureMicrosoft reveals Siri-like Windows Phone feature
NEW YORK — Microsoft unveiled a new virtual assistant for Windows Phone devices last Wednesday as it seeks to gain tra...
Google Glass, good for cooking, needs InternetGoogle Glass, good for cooking, needs Internet
NEW YORK — Google Glass is like a fickle friend. Surprises await, such as the time it took a photo of my ceiling while...
FTC says operators of jerk.com deceived consumersFTC says operators of jerk.com deceived consumers
WASHINGTON (AP) — The Federal Trade Commission says the operators of a website called Jerk.com are the ones behaving badl...
‘Rio 2’ dazzling but overloaded ‘Rio 2’ dazzling but overloaded
A vivid and delightful animated spectacle, Rio 2 is chock-full of colorful 3-D wonder and jubilant musical numbers set ...

Wellness News

The most influential African American weekly newspaper in South Florida

Beatty Media LLC