On Thursday, the chairman of the Senate Budget Committee launched an investigation into Citizens Property Insurance — Florida's insurer of last resort. Citizens' market share in Florida has more than doubled since 2020 and is only expected to continue growing as private insurers in the state continue to go insolvent or exit Florida altogether. Because of this, the committee says it's concerned that if Citizens is unable to cover its losses, it might ask the federal government for a bailout. “The Committee is … increasingly concerned about Florida’s uniquely large and growing exposure to climate-related property losses, Citizens’ rapidly expanding market share, and state law allowing Citizens to levy special assessments on all policyholders in the event that losses exceed its ability to pay," Chairman Sen. Sheldon Whitehouse (D-RI) said in a letter from the Senate Budget Committee. According to Whitehouse, a bailout request would put the government and American taxpayers at "substantial risk." The letter also mentions that Gov. Ron DeSantis himself acknowledged that Citizens would likely be unable to pay out claims if Florida were hit by a large hurricane.