It is a kind of insurance that provides the coverage on contents and building structures of an enterprise. Also, according to the requirements of the business, property insurance offers insurance coverage to glass, crime, outdoor signs, and other properties. Why property insurance is required? The property insurance company covers the repair or damage loss of the property due to theft or fire. In 2002, the Florida legislature passed a law for their state, which induced merger of the Florida Windstorm Underwriting Association (FWUA) and the Florida Residential Property and Causality Joint Underwriting Association. The merger of these two organization resulted in the new organization of Citizen Property Insurance. These governors have the responsibilities to ensure that the business of Florida Citizens Property Insurance Corporation runs smoothly. State Treasurer appoints these governors for the period of three years. Also, the State Treasurer select and appoint a board of technical advisory for providing advises and information to regulate the business of Florida Citizens Property Insurance Corporation. The people of Florida were in a great trouble at that time because neither the insurance company allows compensating for the losses caused by natural mishaps like Windstorm etc. Basically Florida is situated near to the Pacific Ocean. That's why hurricanes and other natural disasters are common in this area. For other additional coverage for extra expense and the business interruption, commercial property insurance offers liability policies. The extra expense includes the payment made to resume the business operation due to possible damage or loss of the building. The liability policies of commercial property insurance give protection to the owner against the expenditure of a court case and the possible judgment. Living in high-risks areas like near floods, old home or Beachfront Island have greater risks in those areas. In 2002, Legislature created a state-run company for Florida property insurance named as Citizens. Citizens offer property insurance to fund those householders who live in high-risk regions and can not afford private insurance companies.