Florida Gov. Crist OK With Rate Increases by Citizens

Florida Gov. Charlie Crist says he’s OK with Citizens Insurance raising its property insurance rates. But not by too much.

Crist said he didn’t favor rates be increased dramatically, but that he wanted to be sure the state-backed insurer remains solvent because so many people depend on it. Citizens carries roughly 1.1 million policies.

Citizens’ rates have been frozen for three years but are scheduled to increase in early 2010 unless state lawmakers intervene. A bill to continue the rate freeze has been filed this session, but has not been heard by lawmakers.

Crist campaigned on having property taxes drop like a rock while keeping homeowner insurance rates down as well.