Today Citizens Property Insurance Corporation named Barry J. Gilway as its new President and CEO. Most recently he held the same positions with a Seattle based private insurance company, Mattei Insurance Services. Gilway comes into this position at a very interesting and critical time. As I wrote recently, Citizens has been discussing hiking rates well more than the allowed 10% per year. In July there are two important dates to keep in mind. On the 16th Citizens will hold a workshop in Miami to discuss the potential rate hike, and the decision will likely be made on July 27th.
It will be interesting to see how Gilway responds to these issues. However, he clearly aligned himself with the board’s desires as the vote to tap him as the new top executive was unanimous.
For more information regarding this topic see the Associated Press article, “Private insurance exec to lead Fla.-backed firm.”