Florida CFO Alex Sink is urging state-backed Citizens Property Insurance Corp. to put more contracts out for bids.
Sink sent a letter to Scott Wallace, president and executive director of Citizens, asking Citizens to change its ways after news reports revealed that the company did not competitively bid 33 contracts worth close to $50 million. Sink has recommended that Citizens revise its broad emergency exemption from competitive procurement, consider posting all of its contracts online on a searchable Web site, and provide additional training for its staff in the competitive bidding process.
Sink commended Citizens for already taking steps to improve its contracting process.
Topics Florida
Was this article valuable?
Here are more articles you may enjoy.
Hard Market Conditions Expected to Ease in 2025 as Claims Inflation Softens: Swiss Re 
P/C Premium Growth Likely But Profits Delayed Until 2025: Forecast 
Viewpoint: Deepfake Fraud Is On the Rise. Here’s How Insurers Can Respond 
Insurers Settle With Hotel in Case of Woman Videotaped in the Shower From This Issue
