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Citizens weighing options to close budget gap

By Melinda Deslatte
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BATON ROUGE, La. (AP) — Louisiana’s state-run property insurer of last resort is considering ways to close its multimillion-dollar budget gap, and either option would lead to increased costs to homeowners covered by traditional insurance companies.

Steve Cottrell, chief financial officer for the Louisiana Citizens Property Insurance Corp., outlined the issue Tuesday to the company board’s finance committee.

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