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The idea to privatize Citizens Property Insurance Corp.,  tossed out at a recent board of governors’ meeting, continues to draw attention. On July 13 the 8-member board met in Naples as part of its regular schedule of meetings at different venues across the state. 

During a presentation by Citizens’ CEO Scott Wallace, as both he and Board Chair James Malone voiced concern about the carrier’s continued growth, Malone surprised many listeners by saying, “I think we ought to really consider privatizing a substantial portion of Citizens. A base of about 800,000 customers who need an insurer of last resort with billions of dollars in assets, thousands of customers, and a nice premium base, should have value somewhere in the marketplace.”

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