Starting Friday, Citizens Property Insurance Corp., Florida's property insurer of last resort, will offer expanded commercial coverage.
Earlier this year, Citizens was authorized to expand its commercial coverage for small businesses.
Citizens currently writes nonresidential coverage only in high-risk coastal areas.
Starting on Friday, Citizens will assume 850 commercial policies from the Property Casualty Joint Underwriting Association, which was activated last fall by an emergency order of the Financial Services Commission.
Citizens will also provide wind-only coverage for businesses across the state, offering up to $1 million in wind coverage to business owners with no more than $10 million of total insured value.
By Sept. 1, Citizens will offer a commercial multiperil policy throughout the state that includes wind coverage. The policy will provide the first $2.5 million of building coverage for structures with a value of $20 million or less.
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