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Citizens Property Insurance Corp.’s board of governors met in emergency session Monday via teleconference to discuss the proposed sinkhole rate increases. Present for the teleconference were Chair Carlos Lacasa and board members Carol Everhart, Nancy Baily, Rob Wallace, Tom Lynch, and Chris Gardner. Also in attendance were Belinda Miller from the Florida Office of Insurance Regulation (OIR), and Citizens’ President Scott Wallace, CFO Sharon Binnun, and General Counsel Dan Sumner.

Following the roll call to establish a quorum, Sumner reviewed voting procedural issues and the conflict of interests’ provision. Based on Sumner’s remarks, board members Everhart and Lynch, both insurance agents, declared that they would abstain from voting on the Citizens’ rate hike issues, citing conflicts of interest. Chair Lacasa noted their abstentions for the record.

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