June 23, 2006
Poll Results Against State-Run Agency
With most privately-owned insurance agencies closing shop after the high payouts following hurricanes Katrina and Rita, the state-run Citizens Property Insurance Corp. is all set to become the largest property insurance provider in Florida. At a time when most insurers are hiking premiums to exorbitant levels in order to keep their heads above water, Citizens is adding 40,000 new customers every month to its already wide base of more than 850,000 policyholders.
But the insurer seems to be winning no prizes in the popularity department; according to a survey conducted by the Orlando Business Journal Business Pulse, 73 percent of the 238 respondents surveyed said that the company should not be run by the state, while only 20 percent were in favor of it. Participants offered suggestions to create incentives like high premiums that would bring back insurance companies to the state.
--
Did you enjoy this post?
