Gilway responds to House passage of HB 7065
April 11, 2019 - Tallahassee
Citizens CEO, President and Executive Director Barry Gilway made the following statements following the House passage of HB 7065.
“The bill approved today would take significant steps toward reducing unnecessary litigation and assignment of benefit abuse that are driving up rates for our policyholders,” Gilway said. “As written, this bill will result in lower 2019 rates for some of our policyholders and shorten the time it will take us to provide relief to all of our customers.
“Citizens actuaries are ready to incorporate these changes into their calculations as they go back and reassess our 2019 rate recommendations now pending before the Office of Insurance Regulation.”
“While not providing immediate premium reductions to all Citizens policyholders, the legislation would go a long way toward stabilizing rates and shortening the time it takes for Citizens to provide rate reductions to its policyholders,” Gilway said.
In 2002, the Florida Legislature created Citizens Property Insurance Corporation (Citizens), a
not-for-profit alternative insurer, whose public purpose is to provide insurance to, and serve the needs of, property owners who cannot find coverage in the private insurance market.