'Homeowners Choice' Insurer Taking Shape

A group of prominent local businessmen, who last fall grabbed headlines by launching a bank, are doing an encore by forming an insurance company. Paresh Patel, chairman of the new Homeowners Choice insurance company, said the businessmen believe homeowners rates in Florida have risen more than the true risk facing the state. So they see an opportunity to provide a much-in-demand insurance, while still making a profit.

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