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Citizens board delays higher rate hike on new policies

Sen. Mike Fasano, R-New Port Richey, listens to public testimony during a committee meeting. Photo Credit: Ana Goni-Lessan 14-4-11

The board of Citizens Property Insurance Corp. will not move ahead with a proposal to implement rate increases for new policies above the 10 percent cap placed on rates by legislators. Board members voted Thursday to study a plan to exceed the cap without legislative approval.

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