Fla. legislators may let Citizens hike rates again - FOX 13 News

Fla. legislators may let Citizens hike rates again

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Florida's largest property insurer could get the go-ahead in the next few months to raise its rates above current limits.
A key Florida House panel spent several hours Tuesday discussing ways to shrink the size of Citizens Property Insurance, the state-created insurer intended to help people unable to buy insurance elsewhere.
Citizens currently has nearly 1.5 million policyholders.
Several House Republicans appeared receptive to letting Citizens raise its rates beyond a current 10 percent a year cap. Additionally, there was discussion about whether the state should let Citizens charge new customers even more than existing customers.
The House panel also sounded receptive to a Citizens proposal to lend money to insurers who would take some of Citizens existing customers.

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