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US Senate Budget Committee launches investigation on Citizens Insurance

Writer: Rachel Murphy
Published: Updated:
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The US Senate Budget Committee is investigating Citizens Property Insurance Corp. after it dropped nearly 100,000 policies.

This comes as Citizens Insurance is downsizing and sending customers to private insurers.

The Budget Committee is questioning whether the Citizens Insurance has taken on too many policies and the risk of a federal bailout if Citizens can’t pay claims. It also called attention to a statement Governor Ron DeSantis made in March 2023, saying if Florida was hit by another major hurricane, Citizens would “unlikely be able to pay out claims.”

The Budget Committee sent Citizens a letter requesting a wide range of documents. Citizens Insurance has until Dec. 21 to respond.

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