Scott Wallace, the President and CEO of Citizens Property Insurance Corp., has announced that he will be stepping down on April 6, 2012 from his positions in the corporation.
Wallace has been the CEO for the insurer for over six years, and has been the head of the company throughout a time when it underwent a significant amount of growth and became the largest provider of homeowners’ insurance in Florida, reaching approximately 1.5 million policies.
Citizens did face some scrutiny after state officials and Governor Rick Scott worked to find ways to reduce the size of the insurer.
Wallace wrote a letter to the insurer’s board saying that he was proud of his service there and that Citizens has made tremendous improvements throughout his time to better their service to the public.
According to his letter, the insurer has significantly bettered itself as it works “toward continuous improvement and excellence in our service levels and professionalism to our policyholders, legislative leaders and stakeholders.” He also added that they have now achieved an organization that is both sustainable and professional, as well as scalable for addressing the needs of their Florida customers and policyholders.
In response, Carlos Lacasa, the chairman of the board at Citizens, spoke his praises of Wallace of his hard work and achievements on the insurance company’s behalf. He said that Wallace brought them through a time of significant change in their infrastructure so that they could be better prepared to provide the services they offer and to give them the claims payment capabilities that were necessary to the housing industry of the state. He added that Wallace’s “talents will be sorely missed.”