Florida postpones merger of homeowners pools. (Briefing).The creation of Citizens Property Insurance Corp., which will combine Florida's two homeowners insurance pools, has been delayed until Aug. 1. The merger was planned for July 1, but it was delayed to allow time for the financial arrangements to be transferred from the JUA JUA Joint Underwriting Association (insurance) JUA Journal of Underwater Acoustics JUA Jamaat-ul-Ansar and windpool to Citizens, said Tami Torres, spokeswoman for the department. Citizens, which will serve as the state's insurer of last resort insurer of last resort An insurance plan that accepts 'uninsurable' persons who have expensive and/or chronic diseases, and cannot obtain coverage at market rates. See Blues. for consumers who can't find property insurance coverage in the private market, will be created by merging the Florida Windstorm wind·storm n. A storm with high winds or violent gusts but little or no rain. windstorm A storm with high winds or violent gusts but little or no rain. Underwriting Association and the Florida Residential Property and Casualty Joint Underwriting Association. Combined, the organizations cover 520,000 homes in hurricane-prone coastal areas. The JUA was created after Hurricane Andrew This article is about the 1992 hurricane; there was also a Tropical Storm Andrew during the 1986 Atlantic hurricane season. Hurricane Andrew is the second-most-destructive hurricane in U.S. history, and the last of three Category 5 hurricanes that made U.S. in 1992 left homeowners stranded without coverage. |
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