Saturday, March 15, 2008

Lawmakers discuss raising Citizens' rates

TALLAHASSEE -- Customers of the state-backed Citizens Property Insurance Corp. have received a breather during the past year.

Gov. Charlie Crist and state lawmakers eliminated a double-digit rate increase that was supposed to hit Citizens' residential customers in 2007 and prevented other rate increases through 2008.

But now, with the end of that rate freeze looming and some leaders worried about the state's financial risks if a major hurricane hits, lawmakers are facing major decisions about Citizens.

Those decisions will determine whether Citizens' customers receive potentially hefty rate increases next year.

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