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With the state-backed Citizens Property Insurance Corp. continuing to see massive growth, regulators Thursday took up a proposal that would lead to double-digit rate increases for Citizens customers across Florida.
Rates could rise by as much as 50 percent for homes that aren’t primary residences.
State-backed insurer is recommending a double-digit increase
Florida's insurer of last resort, Citizens Property Insurance Corp. made a case to regulators Thursday for a 12% rate hike.
Florida insurance regulators Thursday afternoon considered a rate hike for homeowners using the state-backed insurer of last resort.