Fla. largest insurer wants sweeping changes

TALLAHASSEE, Fla. (AP) - Florida's largest property insurer wants sweeping changes - including the ability to charge higher rates - in the coming year.

The board that governs Citizens Property Insurance voted on Monday to ask state legislators to change state law as part of an effort to shrink the size of the insurer. The state-created insurer has nearly 1.5 million policyholders, including many homeowners who live along the coast.

Citizens officials also began discussing changes that could be done without approval from the Florida Legislature, including increasing deductibles for sinkhole coverage and eliminating certain types of coverage.

The Citizens board is pushing ahead with the changes at the urging of Gov. Rick Scott. Scott is worried that Citizens would be forced to place surcharges on everyone's insurance bill if a big storm hits.