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Florida Citizens Property Insurance Corp. says it plans to make up to $350 million available to private insurers willing to assume its policies.

Under a plan approved late last week by the supposed last-resort insurer that is now the state’s largest property writer, low-interest 20-year loans would be made available from Citizens’ surplus to qualifying “take-out companies”—those approved by the state Office of Insurance Regulation to remove policies from Citizens in order to reduce its exposure.

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