Citizens steels for flood of business [Central Florida]
Florida’s small-time commercial landlords and many of the small-business owners who rent space from them have been hit with the same fast-rising insurance premiums that have been shocking homeowners since a series of hurricanes raked the state in 2004-05.
Earlier this year, lawmakers handed the problem to Citizens Property Insurance Corp., the state-backed insurer of last resort, whose commercial coverage until now has been limited to high-risk coastal areas.
As a result, Citizens will offer windstorm coverage to commercial-property owners statewide starting June 1 — the official start of the 2007 hurricane season. It could find itself flooded with applications.