The team at Foundation Risk Partners (FRP) is proud to share the news that Charlie Lydecker, FRP’s Chairman and CEO, has been appointed to the Board of Governors for Citizens Property Insurance Corporation of Florida. Citizens plays a crucial role in Florida’s property insurance marketplace by providing protection to eligible Florida property owners unable to find insurance coverage in the private market. The appointment was made by Florida’s Chief Financial Officer, Jimmy Patronis, and comes at a pivotal time as Floridians are challenged with economic downturn, rising costs and global events that can impact insurance markets.
“Charlie Lydecker is a consummate insurance professional with more than three decades of experience, including property and casualty,” Patronis said in a statement. “As a business owner himself, I know he will bring the utmost professionalism and work ethic to the Citizens’ Board. We all know the unique challenges Florida’s hardening insurance market is facing, and I believe Charlie will help the board navigate those issues, including fighting fraud and protecting policyholders.” Lydecker will be replacing Marc Dunbar of Leon County, whose term expires this year.
“I’m a firm believer in sharing expertise to help residents and improve our state. As more and more insurance companies dissolve or cancel policies, Florida homeowners are facing real challenges that require real advocacy,” said Lydecker. “I’m honored to serve in this position and look forward to working with the board to help homeowners access affordable coverage,” he added.
Lydecker has been contributing in other ways as well, including actively serving on the Board of Governors for the State University System of Florida at the appointment of Governor DeSantis and is presently on the Presidential Search Committee for the University of Florida. In addition to providing his expertise on many other boards, Lydecker has also served two terms as vice chairman of the Florida Ethics Commission and is a former chairman of the Florida Housing Finance Corporation.
Citizens was created by the Florida Legislature in August 2002 as a not-for-profit, tax-exempt, government entity to provide property insurance to eligible Florida property owners unable to find insurance coverage in the private market. Citizens is funded by policyholder premiums; however, Florida law also requires that Citizens levy assessments on most Florida policyholders if it experiences a deficit in the wake of a particularly devastating storm or series of storms. Citizens operates according to statutory requirements established by the Florida Legislature and is governed by a Board of Governors. The board administers a Plan of Operation approved by the Florida Financial Services Commission, an oversight panel made up of the Governor, Chief Financial Officer, Attorney General and Commissioner of Agriculture.
State board for Citizens Insurance gets first representative from Volusia County; Clayton Park; Daytona News-Journal.