Citizens Property Insurance Corp. has endured rate freezes, agent lambasting, unhappy consumers, and now the SEC is after it. You didn't know? Don't feel bad. Neither did Insurance Commissioner Kevin McCarty or most members of the Citizens' Board of Governors, or, for that matter, the press.

In a revelation made even more stunning by the tone-deafness of the few in-the-know, Citizens' general counsel announced at a Dec. 12 board meeting that the state-run insurer has been the subject of an SEC investigation since June.

The lawyers knew. The current chairman James Malone knew. The former chairman Bruce Douglas knew. But none of them thought the other sitting members of the board needed to know.

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