Commercial Development News - Appraisal Development International

Citizens to expand small-biz coverage
By Staff
St. Petersburg Times
Published: Apr 27, 2007

Citizens Property Insurance Corp.'s board of governors Thursday approved a plan to expand its commercial property insurance coverage for small businesses across the state. Under the plan, state-backed Citizens will assume about 850 commercial policies June 1 from the Property and Casualty Joint Underwriting Association and begin writing, on a short-term basis, wind-only coverage for small commercial, nonresidential customers statewide. Citizens will provide up to $1-million in wind coverage to business owners with no more than $10-million of total insured value. By Sept. 1, Citizens will offer a commercial multiperil policy throughout the state that includes wind coverage.