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Citizens Insurance board names new president

12:59 PM, Jun 13, 2012   |    comments
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ORLANDO, Fla. (AP) - A private sector insurance executive will be the next president of Florida's Citizens Property Insurance Corp.

 

The state-created insurer's board on Wednesday selected Barry Gilway from Cockeysville, Md. He is currently president and CEO of Mattei Insurance Services.

 

Interim Citizens' president and former legislator Tom Grady was not among the final three ranked by a search committee.

 

Citizens is the state's largest property insurer for businesses and homeowners with roughly 1.5 million policyholders. It's become more than the insurer of last resort that it was intended to be when created a decade ago.

 

Officials have been discussing raising rates for new policyholders, but the proposal has come under fire from South Florida legislators.

 

Board chairman Carlos Lacasa did not anticipate discussing the proposal at the meeting.

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(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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