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Bill to further shrink Citizens clears Senate panel

The number of policies in state-run Citizens Property Insurance Corp. is falling dramatically, but lawmakers continue to push for more changes to help it move more homeowners into the private market.

The Senate Banking and Insurance Committee passed SB 1672 unanimously Monday. The bill would prevent Citizens from covering new multi-peril policies for condo or apartment complexes in its coastal account, set up a new clearinghouse for condominium buildings like the one set up this year for residential policies and allow unregulated surplus lines companies to offer coverage through the existing clearinghouse.

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