Citizens Property Insurance Corp.’s Board of Governors on Tuesday approved by a unanimous vote a $2.46 billion package that includes reinsurance and capital market risk transfer to protect policyholders and eliminate the risk of assessment on all Florida policyholders in the event of a catastrophic storm or series of events.
“This risk transfer package represents a well-reasoned approach to protecting Citizens policyholders and Citizens’ surplus,” said Chris Gardner, chairman of Citizens'…
