TAMPA, Fla. (970 WFLA) -- A Tampa insurance company is taking over thousands of policies, currently held by state-run Citizens Property Inrsurance.
Homeowners Choice Property and Casualty Insurance Company is assuming more than 34,000 policies, according to the company's news release.
It said the rules allow policyholders a 30-day window to "opt out" and return to Citizens.
In August, Citizens Property Insurance announced that nearly 400,000 Citizens Property Insurance Corporation policyholders will be given the option to return to the private market in November. It was previously approved by the Office of Insurance Regulation for 10 private insurers to assume policies from Citizens.
Citizens Property Insurance Corporation
Photo credit Getty Images