Jeff Atwater: Citizens Belt-Tightening ‘the Appropriate Action’
Florida Chief Financial Officer Jeff Atwater is backing the announcement that Citizens Property Insurance Corp. will follow state procurement guidelines.
Citizens has taken the appropriate action by complying with the more stringent laws and rules that govern purchasing at state agencies. It is the expectation of thousands of policyholders and all residents of this state that this public entity would be as thoughtful and careful with the hard-earned dollars of Floridians as any other public entity," Atwater stated in a release.
The changes outlined by the management and the board of Citizens to improve their processes to increase accountability, transparency and ethical standards are needed and necessary to regain the confidence of their policyholders and the residents of this state.
The state-backed Citizens announced earlier on Friday a series ofrevisions to its purchasing policy, including requirements to conductlegal reviews on contracts topping $65,000 and designating managers to watch over deals worth more than $35,000.
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