Never mind the risk exposure of state-run property insurer Citizens is shrinking — its board decided Thursday to spend more of its ratepayers’ money, $327 million, on private reinsurance in 2013.
Travel to meet with reinsurers in the Caribbean and Europe has helped lead to unflattering stories about $600-a-night hotel rooms, wining and dining, and executive travel costs. Officials at Florida’s last-resort insurer have moved to impose tougher standards on expenses, but it hasn’t dimmed their enthusiasm for reinsurance.
Subscribers get total access to this story, and all our in-depth news, digital editions and exclusive content. Subscribe today, or try a 24-hour or 7-day digital pass.
Registered Post Subscriber — Sign me in.Sign In
Post Print Subscriber — I need to register my account for digital access.Access Digital
All Day Access — 24-hour digital pass99¢ for 24 hours
All Week Access — 7-day digital pass$3.99 for 7 days
All Access, All the Time — Print & DigitalView Offers