Floridas supposed insurer of last resort has moved to shave 7 percent of its risk, including $1 billion in coverage from properties that overlook the Atlantic Ocean and Gulf of Mexico, as a means to truly regain that moniker.
The Citizens Property Insurance board of governors on Wednesday supported a series of measures -- both in-house and through legislative action -- to revamp the state-backed provider, with a goal of reducing the number of overall policies from 1.5 million to 800,000.
