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.