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U.S. Senate launches investigation into Florida's Citizens Insurance
The committee raises questions about climate risks and whether the federal government could be asked to bail out Citizens if a major hurricane hits
The U.S. Senate Budget Committee on Thursday requested a wide range of documents and information from Florida’s Citizens Property Insurance Corp., raising questions about climate risks and whether the federal government could be asked to bail out Citizens if a major hurricane hits. Committee Chairman Sheldon Whitehouse, D-R.I., sent a letter to Gov. Ron DeSantis, state Insurance Commissioner Michael Yaworsky and Citizens President and CEO Tim Cerio requesting information about issues such as models showing Citizens’ potential financial exposure to “worst case hurricane scenarios” and models about Citizens’ ability to pay claims...
