State panel will tackle ballooning of Citizens Property Insurance Corp.

Intended as the last resort, Florida's largest property insurer may have to borrow to pay claims if a major storm hits By Julie Patel | South Florida Sun-Sentinel How can state leaders shrink Florida's state-backed home insurer which has become a behemoth? That's the question the Citizens Property Insurance Corp. Mission Review Task Force will start exploring at its first meeting today in Tampa. State legislators created the task force this year as a first step to return Citizens to its original purpose of being an insurer of last resort for Florida property owners. The group is expected to report its findings and recommendations to Gov. Charlie Crist and House and Senate leaders by Jan. 31. The task force — comprised of insurance industry executives, consumer advocates and state leaders appointed by Crist and other state... [read full story]