Citizens Property Insurance CFO Resigns
Citizens Property Insurance Corp.’s chief financial officer is stepping down.
The state-created insurer announced the resignation of CFO Sharon Binnun on Monday. It said she will be taking a job with a private Florida insurer that hasn’t done business with Citizens in its effort to shed policies.
Citizens is the insurer of last resort and has been under increased criticism by lawmakers and the governor, including reports of lavish spending on travel by top officials. Binnun is one of the executives whose expenses were called into question.
Citizens was also criticized last month for a deal to $52 million to a start-up insurer to accept 60,000 Citizens policies.
Binnun has served as CFO since 2007. Her resignation is effective July 5.
Copyright 2024 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Popular Today
- Work Safety Group Releases List of ‘Dirty Dozen’ Employers
- New Vehicle Registrations in California Rose, While Tesla Registrations Dropped Again
- Apollo Accused in Lawsuit of Illegal Human Life Wagering Scheme
- 4,800 Claims Handled by Unlicensed Adjusters in Florida After Irma, Lawsuit Says
Popular This Month
- Poll: Consumers OK with AI in P/C Insurance, but Not So Much for Claims and Underwriting
- Property Restoration Industry: A Culture in Need of Repair?
- Report: Vehicle Complexity, Labor ‘Reshaping’ Auto Insurance and Collision Repair
- Millions of Recalled Hyundai and Kia Vehicles, With Dangerous Defect, Remain on Road