Florida's top insurance regulator, Tom Gallagher, has launchedan investigation into allegations of fraud against the state-runinsurer of last resort.

"Due to the serious allegations of made against Citizens'Property Insurance Corporation Chief Operating Officer PaulHulsebusch, I have directed our department's fraud detectives toimmediately launch a criminal investigation and subpoena alldocuments related to his case," Mr. Gallagher said in a pressstatement.

Mr. Hulsebusch resigned last Friday.

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