Florida's top insurance regulator, Tom Gallagher, has launched an investigation into allegations of fraud against the state-run insurer of last resort.

"Due to the serious allegations of made against Citizens' Property Insurance Corporation Chief Operating Officer Paul Hulsebusch, I have directed our department's fraud detectives to immediately launch a criminal investigation and subpoena all documents related to his case," Mr. Gallagher said in a press statement.

Mr. Hulsebusch resigned last Friday.

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