Citizens Property Insurance has a lawsuit problem.
Some of the longest-fought battles are in sinkhole alley — the section of the state that includes Hillsborough, Hernando and Pasco counties, which rest on a porous, cavity-prone limestone bed. The amount the agency spends on sinkhole litigation alone has has doubled — from an average per month expenditure of $944,345 for 2012 to $2,050,106 for 2013, according to data provided to state Rep. Frank Artiles, R-Miami, last week,.
As more than 2,100 homeowners have filed lawsuits for sinkhole damage reported more than two years ago, the legal costs of those claims are now costing
Citizens more than $4.4 million a month, or about $2,100 per sinkhole claim.
To deal with the mounting lawsuits, Citizens is fighting in the courtroom and at the capitol: Read more here.