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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.