Regulators OK private insurers to assume Citizens Insurance policies
State regulators cleared three private insurance companies to assume policies now provided by Citizens Property Insurance Corp., Florida’s state-run insurer of last resort. Effective in February, Avatar Property and Casualty Insurance Co. can take nearly 11,000 commercial and personal residential policies. Safepoint Insurance Co. was cleared to accept 15,000 policies, and Southern Oak Insurance Co. can remove 15,000. The Florida Office of Insurance Regulation announced the take-outs Wednesday and offers details on this webpage. The move came as Citizens Board…