Big Victory For Florida Homeowners

Judge State Farm A Florida judge has rejected a 47% rate increase request by State Farm Insurance the state's largest private property insurer.
by The Associated Press
Published: Fri, December 12, 2008 - 3:42 pm CST
TALLAHASSEE, Fla. (AP) - An administrative law judge has
rejected a 47.1 percent rate increase request by State Farm
Insurance, the state's largest private property insurer.
Judge Daniel Manry ruled Friday that the Illinois-based insurer
failed to show it's requested rate was not excessive, inadequate or
unfairly discriminatory.
The state's top insurance regulator, Kevin McCarty, now has 30
days to issue a final order on the State Farm request.
State Farm is Florida's largest private homeowners insurer with
approximately 1 million customers. State-backed Citizens is the
largest overall with 1.2 million policyholders.

(Copyright 2008 by The Associated Press. All Rights Reserved.)
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