At the urging of a regulator, Florida's state-run insurer of last resort held an emergency meeting today and agreed to continue providing building project windstorm coverage until year's end.
The Citizens Property Casualty Insurance Corp. board acted after Florida Chief Financial Officer Tom Gallagher wrote them last week warning there was "no viable [builder's risk] private-sector coverage available."
Meanwhile, a new partnership of Praetorian Financial Group and Britt Paulk announced yesterday that it was launching a builder's risk program in Florida and the Gulf states to meet the shortage.
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