Citizens gets OK to shed another 71,500 policies in March
Citizens Property Insurance Corp. — Florida’s state-backed “insurer of last resort” — received approval Monday to shed another 71,500 home insurance policies from its rolls amid an ongoing effort to reduce the state’s liabilities. The Florida Office of Insurance Regulation announced two private carriers have been approved to take over the policies, which cover properties private insurers previously deemed untenable for coverage. Heritage Property & Casualty Insurance Co. is set to assume 55,000 personal residential policies (35,000 personal line policies and…
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