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Citizens Insurance defends travel

While everyone's paying high home insurance premiums, including those to state-run Citizens, it doesn't sit well with some to hear their board chairman's been traveling the world. But the Palm Beach Post reports the president of state-run insurer Citizens praised its board chairman for traveling twice to Bermuda and once to London, saying it could save policyholders money after bad storms as the panel approved buying private reinsurance costing up to $300 million in 2014. A report by the governor’s inspector general last year criticized Citizens for weak oversight of travel and other spending such as $600 per night on hotels in Bermuda, leading the company to adopt tougher standards. Customers have criticized company officials for living "high on the hog" with overseas travel as ordinary homeowners struggle with rising costs.

 

 

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