When the state goes into business, makes ya wonder who is guarding the hen house. “…Last year Citizens jacked up its rates almost 11 percent, and now it wants legislative approval to go much, much higher.
The cost of insuring a home already is one of the heaviest financial loads carried by Florida families. If you wonder what happens to all the hefty premiums, an investigative series by the Miami Herald and the Tampa Bay Times presents an enlightening snapshot.
Basically, the money’s flying all over the place.
The tab includes a $633-a-night hotel stay in Bermuda for the company Chief Financial Officer Sharon Binnun, as well as expensive visits to Switzerland and London. She jetted through a total of four countries and racked up $35,000 in charges.
Citizens customers (and I’m one of them) are rightfully curious about the pretense upon which a Florida insurance executive would travel to such exotic places and claim it as a business trip….”