Monday, January 21, 2013

State inspector general: Citizens Property Insurance's excessive ...

Employees and board members of Citizens Property Insurance Corp. racked up excessive travel expenses last year, from afternoon tea at a posh London hotel to a $918 dinner at an Orlando restaurant, according to a critical review released Thursday by Florida?s chief inspector general.

About 30 percent of the reports were filed later than the required 10-day time frame and many included expenses of more than one employee, making it difficult to tell who was responsible for a given charge.

Among the findings:

- Citizens? Chief Financial Officer Sharon Binnun incurred $236.17 for the six-hour ?day use? of a hotel room for a meeting in Zurich.

- As many as 36 Citizens employees and board members attended board meetings held in swank hotels.

- When Carlos Lacasa, the board chairman, went to London in April with Binnun and another Citizens executive.

- At board meetings and workshops.

Full News: Citizens Property Insurance?s excessive travel spending should be curtailed


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Source: http://breakingnews.realestaterama.com/state-inspector-general-citizens-property-insurances-excessive-travel-spending-should-be-curtailed.html

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