Florida's Citizens Property Insurance announced it is settlingmore than 300 sinkhole-related lawsuits by providing managedrepairs, according to FOX 13 Tampa Bay.
|The state-run insurer says it will pay for underground repairsrecommended by a professional engineer and performed by apre-approved list of contractors. Citizens will also pay for anyadditional above-ground damage caused by the sinkhole repair, saysFOX 13.
|In 2012, the Florida Legislature started requiring managedrepairs for sinkhole claims to counter insurance fraud that wasbankrupting insurance companies and prompting many to drop sinkholecoverage. The recently settled lawsuits pre-date the law.
|More than 1,800 sinkhole-related lawsuits are still pending, butthey might also be settled with the same provisos, says FOX 13.
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