Citizens Insurance Head Wants Stricter Ethics
 

By DALE HOKREIN
dhokrein@tampatrib.com
 

10/19/2005

The head of Citizens Property Insurance Co. told legislators at a House Insurance Committee meeting in Tallahassee this morning that he will recommend Citizens board members tighten the company's ethics policy to bring it more in line with state agency guidelines.
Citizens, Florida's second- largest homeowner insurer, was created by the Legislature. Its workers are not state employees and are not subject to state ethics rules. State officials are barred from doing work for their former agency or department for two years after leaving state government.

Bob Ricker, executive director of the state's insurer of last resort, said Citizens policy should be more in line with the state employee policy and wants the board to act before legislators do.

The issue came to light last month after the resignation of Citizens Chief Financial Officer Jessica Buss and Controller Corey Neal. Both left to form a company together that would take policies from Citizens to reduce Citizens' exposure. Such companies are eligible for bonuses if they then keep those policies for three years