Category: Citizens Property Insurance
10% insurance raise for Florida policyholders
Gov. Charlie Crist signed a bill Thursday aimed at increasing premiums for homeowners insurance plans offered by the state-run Citizens Insurance. The bill will raise premiums by 10% in order to replenish the plan's reserve funds in case a major hurricane strikes. Lawmakers had initially said it would take a 20% increase to restore solvency, but a compromise was reached at 10%
Florida's Checkbook
Citizens can now track Florida's spending on a new Web site called "Florida's Checkbook."
Chief Financial Officer Alex Sink, a Democratic candidate for governor, Tuesday said the site is part of a push to increase government transparency and accountability.
But she acknowledged the data is drawn from an accounting system that's still in the "dark ages." Lawmakers this year did not pass legislation Sink says she needs to revamp the system. She said she'll try again next year.
The Web site - http://www.myfloridacfo.com/transparency - includes finance reports, fund balances, state and local receipts and disbursements and contracts. Charts and graphs show revenue, disbursement and cash balance trends.