The CEO of Citizens Property Insurance pushes back on the ability to pay claims

Citizens Property Insurance is shedding policies to private insurers. Citizens has about 1.162 million policies, down from 1.18 million policies a week earlier. Citizens now has about 2.7 million policies with private insurers, Morgan Rynor reports. Citizens is shedding about 1 million policies.

Citizens Property Insurance CEO pushes back on ability to pay claims claims. CEO responds to questions raised by the chairman of the U.S. Senate Budget Committee. CEO: "Citizens Property Insurance can't afford to pay any of its claims" Senator: "It's not a matter of whether or not we can afford to make sure we can't pay claims"