|Published:||Mar 11, 2011 7:41 PM EST|
|Updated:||Mar 11, 2011 4:43 PM EST|
TALLAHASSEE, Fla.- Florida lawmakers can't stop worrying about the state-backed Citizens Property Insurance company.
Sen. Alan Hays of Umatilla said Friday the time has come to get Citizens - and Florida taxpayers by extension - out of the business of insuring any new construction in hazardous, environmentally sensitive areas. That would include lands federally designated under the Coastal Barrier Resources Act and remodeling projects and pre-existing structures in those designated areas.
Citizens has become known as the insurer of last resort that provides coverage on high-risk coastal properties where owners can't buy policies from commercial insurers. It's the state's largest property insurer with roughly 1.2 million customers.
(Copyright 2011 by The Associated Press. All Rights Reserved.)
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