Fla. Regulator OKs Takeout Of 400K Citizens Property Policies

Law360, Miami (August 30, 2013, 2:51 PM EDT) -- Florida's insurance regulator on Wednesday signed off on the return of almost 400,000 Citizens Property Insurance Corp. policies to 10 private insurers as the state-backed insurer continues its depopulation efforts to shed policies and reduce risk.

Florida's Office of Insurance Regulation approved the takeout of 393,732 policies from Citizens' rolls by private insurers, who will assume the policies in November. The depopulation comes just a few months before Citizens' January 2014 consumer clearinghouse, which will match Citizens policyholders and applicants with private carriers offering coverage at...
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