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The head of Citizens Property Insurance wants to explore handing over the more than a million policies to a private company. Citizens board chairman told members today privatization may be the answer to the concerns surrounding Citizens ability to pay claims. Governor Rick Scott says its worth considering.

“If looking at things like privatizing Citizens is something that will help drive down the cost of insurance of our state I want to look at it very closely,” said Scott.

Citizens holds properties the private sector deems too risky to insure. Many of the properties are on the coast. If a major storm wiped out a large number of those properties, Citizens could pay claims so taxpayers would to foot the bill.