Crist Okays Citizen Rate Hike
March 10th, 2009 by flanewsGovernor Charlie Crist says he’s fine allowing the rate freeze to expire on Citizen Property Insurance.
Policy rates for the state-run property insurer have been frozen since 2006. Lawmakers don’t seem poised to take up a bill to extend the freeze until 2010. Crist said lifting the rate increase ban could make Citizens stronger.
“I’m confident in Citizens, I think they are viable. I think they are stable. I think they are a lot better than some other insurance companies, but I want to make sure they continue, that’s all,” said Crist.
If the freeze sunsets Citizens’ rates could go up 20 percent next year.
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