Having read the letter to the editor by Citizens Property Insurance Corp. CEO Barry Gilway (“Citizens ‘tax’ warning not a scare tactic,”) I would ask him if the answer to assessments not creating a problem is moving or threatening customers to move to a carrier that has not been in business even one year. Paying that company to take policies off Citizens’ hands, and then what?
What happens if that “Andrew-like storm” does come? What happens if that start-up insurance company doesn’t stay around and pay up? What happens if that start-up company rejects claims like Universal did? What happens to those customers who were threatened to move to it? Maybe the people left in Citizens and with other companies will pay even more because those people will need help. Millions would have already been given to them from Citizens policyholders, and we would all be worse off.
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