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Citizens Property Insurance Corp. plans to eliminate homeowners coverage on roughly 7,500 coastal homes valued at $2 million or more and reduce the amount of homeowner liability coverage in a measure designed to reduce the size of the state-backed insurer and corresponding risk to Florida taxpayers.

Citizens Property Insurance Corp. plans to eliminate homeowners coverage on roughly 7,500 coastal homes valued at $2 million or more and reduce the amount of homeowner liability coverage in a measure designed to reduce the size of the state-backed insurer and corresponding risk to Florida taxpayers.

Filing phony long-term care insurance applications leads to the arraignment of a Newbury Park agent. The agent is charged with one count felony grand theft and with impersonating some of the insurance applicants over the phone.

BP has lost two big rulings in its fight to shield itself from potentially having to pay billions of dollars more in damages related to the worst offshore oil spill in U.S. history, though the company was able to limit some of its future exposure.

BP has lost two big rulings in its fight to shield itself from potentially having to pay billions of dollars more in damages related to the worst offshore oil spill in U.S. history, though the company was able to limit some of its future exposure.

Florida's largest property insurer wants sweeping changes, including the ability to charge higher rates, in the coming year.

Florida's largest property insurer wants sweeping changes, including the ability to charge higher rates, in the coming year.

Billionaire investor Warren Buffett says Europe's debt concerns and the anemic U.S. home construction business will continue to hurt the economy even though many businesses are performing well.