Toluse Olorunnipa did an excellent job of reaming Citizens Property Insurance Company’s executives in the Feb. 17 article, Insurer gives bosses big pay hikes, but the article just highlighted what everyone has been asking for years: What does Citizens do with all the premiums during hurricane-free years?
When I moved to the Florida Keys eight years ago and last-resort Citizens was the only way to secure insurance and, therefore, a mortgage I doubted that anything government-backed would ever be closely watched. Rate increases and coverage loses have done little to change my thinking.
The only thing I ask now is why it took so long for our lawmakers to see what was going on.
Kenneth P. Hoffman, Key Largo