Florida's State-backed Insurer Backs off Plan for New Office

October 3, 2008

In the wake of criticism by key Florida lawmakers, the state-backed property and casualty insurer, Citizens Property Insurance Corp., is backing off plans to seek a new, larger office complex that once included a gymnasium, cafeteria and concierge service.

Two Republican state senators, Don Gaetz of Niceville and J.D. Alexander of Winter Haven, objected to Citizens seeking 100,000 square feet of more expensive office space at a time small businesses and families were smarting from high insurance rates.

Both lawmakers sit on the Senate Banking and Insurance Committee.

On Oct. 1, Gaetz said any extra dollars that might be available to the government-backed insurer should instead lower surcharges and lower premiums for its policyholders.