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New policy talks continue between Citizens, insurance regulators

The deadline for Citizens Property Insurance Corp. to respond to state regulators over a new homeowners policy came and went Monday, but little was resolved in the dispute over the rates for the new policy.

Known as HO-8, the new policy option is a stripped-down version of the standard homeowners’ policy, and doesn’t cover water leaks or falling objects. Typical HO-8 policies in the private market pay only actual cash value for the structure of the home, but the new Citizens HO-8 policy would have the option of replacement cost value for claims.

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