DeSantis: FL’s State-Run Home Insurer Is “Not Solvent”

Florida Politics reports:

Gov. Ron DeSantis is telling the nation that people in his state shouldn’t rely on the state-run insurer of last resort, raising new questions about Citizens Property Insurance ahead of what is expected to be a robust hurricane season.

“It is not solvent and we can’t have millions of people on that because if a storm hits, it’s going to cause problems for the state,” the second-term Republican said on CNBC’s “Last Call.”

The U.S. Senate Budget Committee has probed the DeSantis administration about the company’s ability to handle underwriting losses, including the question as to whether the state insurer might need a federal bailout.

Read the full article.

Ready for storm season?

The state of Florida may not be.@GovRonDeSantis claims Citizens Insurance is ‘not solvent’

Reporting by @AGGancarskihttps://t.co/0lsRUAIUij#FlaPol pic.twitter.com/cjZzbYCrod

— Phil Ammann (@PhilAmmann) February 28, 2024

.@GovRonDeSantis provides an update on the insurance market.

With major reforms enacted about a year ago, there’s been a change in the market’s dynamics, and new companies are moving into the state.

Rome wasn’t built in a day, but the market is heading in the right direction. pic.twitter.com/5xpTua7FRL

— Jeremy Redfern (@JeremyRedfernFL) February 28, 2024