Heritage Insurance

Florida’s state-backed Citizens Property Insurance Company is continuing its effort to move its policies to the private sector.

But over the past week, critics have blasted Citizens over a deal with Heritage Insurance.

The deal – worth $52 million dollars – moves as many as 60,000 policies to the private insurer.  As part of the agreement, Heritage has promised not to raise rates more than 10 percent a year for the next three years.  Also, Heritage will not award dividends for the same term.

A deal to shift up to 60,000 insurance policies from the state-backed Citizens Property Insurance Corporation to privately held Heritage Property Insurance is raising concerns.  

On the left, former Florida State Senator Dan Gelber is criticizing a $110,000 contribution made by Heritage for Governor Rick Scott’s upcoming reelection bid.