• Citizens Property Insurance approves 7 percent rate hike


    CENTRAL FLORIDA - Florida's largest property insurer just approved another round of rate hikes that could affect more than a million policyholders.

    The board for Citizens Property Insurance Corporation voted Wednesday to raise statewide rates by 7 percent next year.

    The increase would translate into $178 million in new insurance costs for policyholders.

    The rate hike still needs to be approved by state regulators.

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