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Under pressure, Citizens panel considers phase-in of rate hike on new policies

A panel of Citizens Property Insurance Corp.’s board of governors looked at taking a slower approach to a proposed 30 percent statewide rate increase for new policies during a meeting Thursday.

Under a plan that has drawn heated criticism from some lawmakers and consumer advocates, rates for new policies would be “decoupled” from existing policies, setting aside the 10 percent cap on annual rate increases put in place by legislators three years ago.

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