> Why is US Sen. Sheldon Whitehouse still investigating Citizens Insurance?
Why is US Sen. Sheldon Whitehouse still investigating Citizens Insurance?
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We're hearing from the man behind the congressional investigation into Citizens Insurance and whether it can pay claims or is insolvent.
Senator Sheldon Whitehouse represents Rhode Island in the U.S. Senate, but as Budget Committee Chairman, he has his sights on Florida and Citizens Property Insurance Corporation.
“It's logical for them to come to the federal government looking for a bailout,” he said Thursday to 10 Tampa Bay. “Those numbers can get very, very big.”
He wants to know if Florida would ask for a federal bailout if major disasters drained funds from state-run Citizens, sending letters to its CEO last year and again after Gov. Ron DeSantis said last month that Citizens is likely insolvent.
“We're not looking at this only as a Florida problem that might come home to roost in Congress in the form of funding for Congress,” he said. “But also, that Florida is the leading edge of sort of a national coastal property insurance and valuation challenge.”
MORE: https://www.wtsp.com/article/news/regional/florida/citizens-insurance-florida-rate-claim-investigation/67-b0f4285d-b845-43f4-8464-86a80ce535e5
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