State might pick up storm coverage in Florida

03/2/2009 | Miami Herald (free registration), The

Florida state legislators are looking to draw private insurers to the area by shouldering the cost of hurricane coverage for all the state's homeowners' insurance policies. The hope is that by spreading the cost over the entire state, the legislature will be able to do away with the state's Citizens Property Insurance Corp. The legislature also will consider other proposals, including one that would sharply raise Citizens' premium rates and one that would reduce the Florida Hurricane Catastrophe Fund and increase homeowners' premiums.

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Miami Herald (free registration), The

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