As seen in the Palm Beach Post:
A business plan from the state-run insurer to compete in the private market and reduce windstorm premiums for its customers was unanimously approved Tuesday by the Florida Cabinet.[.]
The plan expands Citizens Property Insurance Corp., already the largest insurance company in the state, by letting it compete for more profitable lines such as theft and fire in the high-risk, coastal areas.[.]
The plan next goes to a legislative budget panel for consideration March 26.
If it is approved, Citizens’ officials expect to start offering the new lines by July.
Thus, the state of Florida continues seeking to have its pie and eat it too.
(Sorry. Couldn’t resist the pi-joke.)