Citizens Property keeps drywall house on policy

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Florida’s public insurance company has made a major policy change in agreeing to cover a Gulf Coast property whose renewal it had previously said would be canceled due to tainted Chinese drywall. On Oct. 15, Citizens told the Associated Press it generally couldn’t continue to cover homes with such defective materials because of a pollution exclusion in policies. The insurer called the drywall a preexisting condition that could cause future damage. Following media reports and urging from Florida Senator Bill Nelson, Citizens asked to perform a second inspection on the home, and on Thursday told the owners they would be covered until at least 2011. [AP via Florida Realtors]

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