Fla. Gov. criticizes insurer after signing bill

Associated Press

TALLAHASSEE, Fla. (AP) -- Florida Gov. Rick Scott is sounding off again against the state's largest property insurer.

Scott on Wednesday signed a bill that includes modest steps to shrink the size of the state-created Citizens Property Insurance Corp.

The bill creates a new "clearinghouse" designed to steer homeowners into private insurers instead of obtaining coverage through Citizens. The legislation also phases in over three years a $700,000 cap on the value of homes that can be insured by Citizens.

Scott used the bill signing to criticize moves made in the last few months by Citizens. He also said that the insurer should make public any proposed deals seven days before acting on them.

Last week Citizens agreed to pay $52 million to a start-up insurer to accept 60,000 Citizens policies.