Crist extends Citizens rate freeze

Gov. Charlie Crist on Wednesday signed a bill that will continue the freeze on Citizens Property Insurance Corp.'s rates through 2009.

However, he vetoed the part of the bill that would have appropriated $250 million from the state-run insurance company's reserves to provide incentives for private insurers to enter the homeowner market in Florida.

The bill also increases penalties for insurers who break Florida's insurance code, and extends a provision from the 2007 insurance bill that requires insurers to get state approval before raising property insurance rates until 2010.

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