The Senate Banking and Insurance Committee voted unanimously that Scott Wallace be appointed as president and CEO of the Citizens Property Insurance Corporation, clearing the way for Wallace to be confirmed by the full Senate before the regular legislative session ended on May 4. Under the comprehensive property reforms passed earlier this year, the president of Citizens must be confirmed by the Senate rather than just hired by the board.

The Citizens Board of Governors voted unanimously in January to recommend that the Senate approve Wallace on a permanent basis after appointing him as interim president in September 2006. The board then conducted a nationwide search before settling on Wallace in January. He previously served as the insurer's senior vice president of operations, and assumed the job on the recommendation of Bob Ricker, who spent three years as the first president of Citizens. “I would like to thank the board for its support and I look forward to working with the board as we go forward with the future of Citizens,” he said after receiving the board of governors' approval.

Earlier this year, the board hired Sharon Binnun as senior vice president of finance and accounting and chief financial officer. She was a certified public accountant for 20 years and has been a deputy commissioner with the Office of Insurance Regulation.