A state program in Florida designed to encourage insurers towrite homeowners coverage has now approved $90 million in surplusnotes for four companies, according to a spokesman.
Under the Insurance Capital Build-Up Incentive Program,companies that apply for the support must submit a business plan tothe program's board and write a prescribed ratio of residentialbusiness.
The carriers are required to make quarterly reports of theirresidential coverage amounts and be certified by the Florida Officeof Insurance Regulation as being in compliance.
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