Florida CFO Alex Sink is urging state-backed Citizens Property Insurance Corp. to alter its contracting procedures and put more contracts out for competitive bids.
Sink sent a letter to Scott Wallace, president and executive director of Citizens, asking Citizens to competitively bid more of its contracts after news reports revealed that the company did not competitively bid 33 contracts worth close to $50 million.
Sink has recommended that Citizens revise its broad emergency exemption from competitive procurement, consider posting all of its contracts online on a searchable Web site, and provide additional training for its staff in the competitive bidding process.
Sink commended Citizens for already taking steps to improve its contracting process.
Topics Florida
Was this article valuable?
Here are more articles you may enjoy.
How One Fla. Insurance Agent Allegedly Used Another’s License to Swipe Commissions 
World’s Growing Civil Unrest Has an Insurance Sting 
Florida Insurance Costs 14.5% Lower Than Without Reforms, Report Finds 
Fingerprints, Background Checks for Florida Insurance Execs, Directors, Stockholders? 
