The Florida Office of Insurance Regulation announced yesterday that it has further expanded the activities of the state's insurer of last resort, Citizens Property Insurance Corp., by approving a new multiperil commercial nonresidential insurance program.

Action by the OIR follows authorization earlier this year by the Florida Legislature for Citizens to assume the policies of the Property and Casualty Joint Underwriting Association and to create a plan to offer commercial insurance to businesses.

"Adding Citizens to the mix of companies writing commercial multiperil insurance is good for the competitive market," said Insurance Commissioner Kevin McCarty.

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