Citizens Property Insurance Corp. has the money to weather almost any major hurricane to strike the state, the chief financial officer of Florida’s state-run insurance company told the governor and his cabinet.
In a presentation Tuesday, Citizens CFO Sharon Binnun revealed the company is in a better financial position than it has ever been.
Citizens has $14 billion to pay claims in 2010, $11 billion in cash and assets, and $3.9 billion in surplus to stay afloat if a catastrophe occurs.