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A home sits near a sinkhole, about 100-feet wide and 50-feet deep, on May 5, 2012, in Windermere, Fla. (AP Photo/John Raoux)

Florida’s Citizens Property Insurance announced it is settling more than 300 sinkhole-related lawsuits by providing managed repairs, according to FOX 13 Tampa Bay.

The state-run insurer says it will pay for underground repairs recommended by a professional engineer and performed by a pre-approved list of contractors. Citizens will also pay for any additional above-ground damage caused by the sinkhole repair, says FOX 13.

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