Private property insurers get OK to take up to 130K Citizens policies

TALLAHASSEE — As efforts continued to sort out damage from Hurricane Idalia, regulators on Friday approved proposals by four private insurers to pull as many as 130,000 policies from the state’s Citizens Property Insurance Corp.

Insurance Commissioner Michael Yaworksy signed orders approving the proposals by Homeowners Choice Property & Casualty Insurance Co., Florida Peninsula Insurance Co., Monarch National Insurance Co. and Edison Insurance Co.

The proposals were filed in late July, and the companies will be able to start assuming policies from Citizens about Nov. 21.