Why should Citizens be permitted to dump 60,000 policies by transferring them to a newly formed insurer? This switcheroo may diminish the state’s exposure but leaves policy holders with coverage insured by companies with no history and no track record. Behind Citizens is the state’s power to tax. Who stands behind these new companies other than a pack of lobbyists who got them in the door to begin with? Policyholders will be left holding an empty bag when the next “big one” hits and these fledgling companies fail.
This proposal is outrageous and should be rejected.
Robert S. Steinberg, Palmetto Bay