Pointing to “almost incomprehensible growth,” the president and CEO of Citizens Property Insurance Corp. said Wednesday the state-backed insurer could have 1.2 million customers by the end of the year. Citizens, which was created as an insurer of last resort, has received a flood of policies during the past two years as private insurers have shed customers and sought hefty rate increases because of financial troubles.
Pointing to “almost incomprehensible growth,” the president and CEO of Citizens Property Insurance Corp. said Wednesday the state-backed insurer could have 1.2 million customers by the end of the year. Citizens, which was created as an insurer of last resort, has received a flood of policies during the past two years as private insurers have shed customers and sought hefty rate increases because of financial troubles.