Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Florida Citizens Property Insurance Corporation, the state insurer of last resort, said it received more than $168 million from the Internal Revenue Service as part of an agreement declaring Citizens’ predecessor a tax-exempt entity.

“We received this money from the IRS to settle a court battle that began when the Florida Windstorm Underwriting Association (FWUA), a predecessor of Citizens, sued the Internal Revenue Service for a refund of previously paid federal income taxes,” said Perry Cone, general counsel, in a statement.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?


Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.