Monday, May 25, 2009

Citizens Property insurance coverage to expire

discontinued, but they remain eligible for coverage from the state-backed company.
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The company is allowing more than 340,000 wind-only policies statewide to expire this year so that it can write new policies for the customers, Citizens spokesman John Kuczwanski said.
The notices state: "Your Citizens wind-only policy is being discontinued. You must reapply for new coverage."
The notices have no bearing on the customers' ability to get coverage. Citizens is the state's insurer of last resort for customers who can't get coverage in the private market.
The move is necessary because wind-only policies were written using forms and systems that date back decades to the companies that preceded Citizens, Kuczwanski said.