Rick Scott: Citizens Property Insurance Needs to Watch Costs

Gov. Rick Scott isn’t convinced that Citizens Property Insurance Corp. should have rebuffed his request for an international travel ban, even if the overseas trips were part of a $3.2 billion deal that saved the state-backed insurer $233 million.

At the request of Scott, Citizens President and CEO Barry Gilway appeared before the state Cabinet on Tuesday to explain $48,006 spent on trips that involved Gilway, Citizens Chairman Chris Gardner and three others during the first four months of the year.

The four trips were to Bermuda, London and Zurich, the heart of the reinsurance industry.

“Citizens has done a good job of downsizing, but they have to watch how they spend their money,” Scott told reporters after the Cabinet meeting. “Our citizens are on the hook for Citizens insurance, so we have to make sure they watch how they spend their money.”

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