Citizens Property Insurance President Scott Wallace Resigns, Effective April 2012

The Miami Herald reported today, January 9, 2012, that Citizens Property Insurance Corporation President Scott Wallace is resigning, effective April 2012.

The article is reprinted below:

Citizens Property Insurance president resigning

The Associated Press

TALLAHASSEE, Fla. — Citizens Property Insurance Corporation President Scott Wallace is resigning after six years at the head of the state-backed property insurer.

Wallace turned in his resignation to Board Chairman Carlos Lacasa on Friday. Wallace will remain at Citizens into early April to assist with a transition to new leadership.

Lacasa on Monday credited Wallace for improvements in Citizens’ service levels, risk transference initiatives, and professionalism towards its policyholders, agents, legislative leaders and stakeholders.

Citizens is Florida’s largest property insurer for home and business owners with roughly 1.5 million policyholders. It has grown rapidly in recent years despite legislative efforts to reduce its size and liabilities. Citizens was created by the Legislature in 2002 to provide insurance to homeowners in high-risk areas and those unable to find coverage in the private market.

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