Gov. DeSantis describes state insurer Citizens as ‘unfortunately undercapitalized’

Florida’s Governor continues to defend the state’s struggling property insurance market, though his words offer as much caution as reassurance.

Gob. Ron DeSantis remarked Friday in Cape Coral that Citizens Property Insurance, the state insurer of last resort, is “unfortunately undercapitalized.” However, he also noted that the company feels like it will be able to pay claims from this storm due to a relative lack of policies in Southwest Florida.

Citizens’ customer base has grown to more than a million customers as private insurers have failed or bailed on the state, but the Governor’s remarks suggest that such growth comes with

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