Clearwater's Homeowners Choice may assume 95,000 Citizens policies

Clearwater startup Homeowners Choice has received the green light to take over three times as many home insurance policies from Citizens Property Insurance.

The company said Thursday that the Florida Department of Insurance authorized it to assume Citizens policies held by 95,000 homeowners statewide, up from 30,000.

Florida has a "take-out'' program that encourages private insurance companies to take over policies from Citizens to reduce the state's risk exposure.