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Citizens Insurance Moves Forward With Clearinghouse Plan
August 23, 2013
The board of state-backed Citizens Property Insurance Corp. approved a contract Thursday for a computerized “clearinghouse” aimed at helping Floridians find private insurance coverage.
Bolt Solutions, Inc., will provide a software platform for the clearinghouse, which lawmakers required Citizens to establish. The contract is for five years, with an option for an additional five years and could total as much as $44.9 million over the decade. The clearinghouse is designed to match up homeowners with insurance companies willing to provide coverage.
Consumers, working with their agents, will submit information, and insurance companies then will be able to make coverage offers. State officials hope the clearinghouse will help move homeowners into the private-insurance market instead of getting coverage from Citizens. The clearinghouse is expected to begin operating January 1.
by The News Service of Florida
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