The Real Deal Miami

Citizens trims policy rolls

December 15, 2008 09:47AM

Private insurance companies have reduced state-run Citizens Property
Insurance rolls by 361,324 policies, reducing the company’s exposure to
hurricane claims by up to $100 million. Three private insurers led a
group of 14 companies that assumed Citizens policies: 116,040 by
Magnolia Insurance, based in Key Biscayne; 57,217 policies by
Homeowners Choice, based in Port St. Lucie; and 48,217 policies by
Florida Peninsula, based in Boca Raton.