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Florida News

Citizens eyes rate hikes, grapples with growth

| News Service of Florida

Preparing to approve proposed rate increases, leaders of Citizens Property Insurance Corp. expressed continued frustration Tuesday at rapid growth in the state-backed insurer — and that rates aren’t higher.

“At the end of the day, from our perspective, we continue to grow in a company that is supposed to be shrinking,” Citizens Board of Governors Chairman Carlos Beruff said as committees met in advance of a full board meeting Wednesday. “And that is because we have huge advantages in the marketplace that other companies don’t have.”

 

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