ORLANDO, Fla. -- The Citizens Property Insurance Corp. could have a new president in place soon.
The state-backed insurer's governing board meets Wednesday with a report due from its presidential search committee.
Citizens is the state's largest property insurer for businesses and home owners with roughly 1.5 million policyholders and has become more than the insurer of last resort that it was intended to be when created a decade ago.
Gov. Rick Scott is among those in favor of Citizens taking whatever action it needs to shed customers and reduce the risk to Citizens customers who would be assessed to make up any shortage in the event of a catastrophic storm.
Company officials have thrown out the possibility of increasing rates by more than the 10 percent annual cap established by the Legislature.
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