Florida’s state-created insurer puts rate hikes on hold
MAITLAND, Fla./June 21, 2018 (AP)(STLRealEstate.News) — One of Florida’s largest property insurers is delaying a plan to raise its rates.
The board that controls Citizens Property Insurance voted on Wednesday to delay a vote on rate hikes until December. Normally, the state-created insurer considers rate increases during its summer meetings.
The move came with the support of Chief Financial Officer Jimmy Patronis, who was appointed to the job by Gov. Rick Scott.