August 26, 2006
Hike, Hike, Hike – Florida Homeowners Face more Hikes
Insurance companies in Florida are chomping at the bit to increase their rates, and the Florida Office of Insurance Regulation is giving them a fair hearing before deciding one way or the other. The insurance regulator has turned down one filing, with three more to go. First Home Insurance Company, which sought a hike of 73.4 percent across the state for its homeowners policies and an increase of 43.8 percent for its dwelling/fire lines, had its request shot down.
Hearings are also scheduled for rate filings submitted by Metropolitan Casualty Insurance Company, Southern Fidelity Insurance Company, and First Community Insurance Company. Metropolitan is looking to raise homeowners’ rates state-wide by 95.7 percent, while First Community has filed for an increase of 64.6 percent for its dwelling/fire insurance lines in Florida. Southern Fidelity is hoping to raise homeowners’ rates by as much as 57.3 percent and dwelling/fire lines by 40.4 percent.
The hearings, which are open to the public, are to be held on August 31. Besides this, they will also be available as taped versions here.
--
Did you enjoy this post?
