Chinese Drywall Insurance Update: Florida’s largest property insurer, Citizens Property Insurance Corp., will not cancel property insurance on homes with Chinese drywall, according to an Oct. 20, 2009 Sarasota Herald Tribune blog post. The insurer, which has more than a million policies, has received only about two dozen claims related to Chinese drywall. Susanne Murphy, an executive vice president for the state-backed insurer, said the company has not paid out any money on the chinese drywall claims. Murphy said it remains unclear whether Chinese drywall claims will be covered by the insurer. But Murphy said if the drywall leads to other damage, such as corroded wiring or plumbing, that existing damage may not be covered by a new policy.
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