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More take outs announced as Citizens moves toward loan program

The Office of Insurance Regulation announced Monday it approved 60,000 more policies to be taken out of Citizens Property Insurance Corp. by private companies.

The announcement comes on top of the 150,000 policies OIR approved earlier this month to be removed from the state-run insurer that Gov. Rick Scott and some lawmakers worry carries too much risk. Citizens is the largest property insurer in the state with 1.4 million policies, and Citizens and non-Citizens policyholders alike could be hit with assessments in the aftermath of a one-in-100-year storm.

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