Florida's insurance department says it has approved a plan by the state's Citizens Property Insurance Corp. to remove 150,000 homeowners policies to four private-sector companies.
In a statement, the department says the take-out, to begin Nov. 6, will add to the total of 84,339 policies already taken out of Citizens this year.
“The leadership and commitment by Florida's domestic companies to expand their business in our state sends a clear signal that we have a reinvigorated homeowners insurance marketplace,” says Florida Office of Insurance Regulation Commissioner Kevin McCarty. “It gives me great pleasure to announce that the latest take-out figures have the potential to make 2012 the largest take-out year for Citizens since 2008.”
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