Business

Don Gaetz Calls for Confirmation Hearing for Citizens Property President

By: Jim Turner | Posted: February 22, 2013 3:55 AM
Senate President Don Gaetz has generally backed the work of the head of Citizens Property Insurance Corp., hired last June.

Barry Gilway

Citizens Property Insurance Corp. President and CEO Barry Gilway | Credit: Business Observer

But as legislators debate the future of the state-backed agency, and reports of operational bloat come to light, reports that some executives have received pay raises of 12 percent to 24 percent, Gaetz would like Citizens President and CEO Barry Gilway to undergo a formal Senate confirmation.

“Citizens has become a very confused organization,” Gaetz said during an interview Thursday.

“It doesn’t have a clear business plan. Is it supposed to get smaller or is it supposed to get bigger? I’d like it to get smaller.”

With approval of his general counsel, Gaetz is arranging for the Senate Banking and Insurance Committee, which is currently reviewing changes to the homeowners' policies at Citizens, to conduct the confirmation hearing.

Gaetz, who called the pay raises a “bad idea” as the same committee debates ways to shed policies in favor of private firms, said the confirmation hearing would be a good time for senators to question the executive pay.

The Miami Herald reported earlier this week that 14 percent bumps went for CFO Sharon Binnum and Chief Insurance Officer Yong Gilroy, which pushed both to $255,000 a year, while Citizens’ general counsel, Daniel Sumner, got a 12 percent boost to $215,000 a year.

Otherwise, Gaetz expressed support for Gilway’s leadership, particularly in the action taken to impose state agency travel guidelines on Citizens employees after a report by Gov. Rick’s Scott’s inspector general found excessive travel spending inside Citizens.

“I think Gilway made a good move when he made it an organizational issue to cut back on excessive expenses of his employees,” Gaetz said.

“Like any leader, he’s probably done some things I wouldn’t have done, but in general I think he has the right instincts and right experience.”



Reach Jim Turner at jturner@sunshinestatenews.com or at (772) 215-9889.

Comments (0)

Leave a Comment on This Story

The content of this field is kept private and will not be shown publicly.
To prevent automated spam submissions leave this field empty.