Thursday, August 18, 2005

 
Florida Homeowners to pay 6.8% bailout cost for Citizens:
Palm Beach Post - Florida's battered homeowner insurance consumers: Get ready to pay to prop up the state-sponsored home insurance company.

Citizens Property Insurance Corp., the state's homeowner insurer of last resort, Wednesday approved a 6.8 percent one-time assessment on all homeowner policies in Florida — even those written by private insurers — to cover a $516 million deficit it incurred during last year's hurricane season. For homeowners statewide, that translates into an extra $68 they'll have to shell out for every $1,000 in annual insurance premiums they already pay.

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