U.S. Senate committee probes Citizens Property Insurance's solvency, viability

U.S. Senate committee probes Citizens Property Insurance's solvency, viability

The U.S. Senate Budget Committee is demanding answers from Gov. Ron DeSantis about Citizens Property Insurance and its ability to handle underwriting losses, including the question as to whether the state insurer might need a federal bailout. Chairman Sheldon Whitehouse wrote the Governor, Insurance Commissioner Michael Yaworsky, and Citizens CEO Tim Cerio with concerns about how climate risk could push Florida’s insurer of last resort into inso…