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By
The Associated Press
.
Published: Wed, July 16, 2008 - 1:50 pm
Last Updated: Wed, July 16, 2008 - 1:55 pm
TALLAHASSEE, Fla. (AP) - State Farm is seeking a 47.1 percentrate increase in homeowners' policies in Florida.
The Illinois-based company is the largest private homeowners'
insurer in Florida with roughly 1 million customers.
State Farm spokesman Justin Glover says the company has spent
roughly $1.20 for every dollar collected in premiums in Florida
since 2000 and the big increase was necessary to stabilize its
Florida operation.
A spokesman for the state Office of Insurance Regulation says
the filing is being thoroughly reviewed and that a public hearing
on the State Farm filing will be held next month.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
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I bet the people in FIRESIDE canyons aren’t denied for WIND DRIVER FIRES. Kansas is prone to tornadoes, the surrounding areas of the Mississippi have their own issues and folks up Nawth have roof collapse due to snow. Raise the rates and make up for it is what they are telling us. Insurance is about PROFIT. If they were not making a profit, they would not do it.