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.)
WeatherWeather
Big Victory For Florida Homeowners
A Florida judge has rejected a 47% rate increase request by State Farm Insurance, the state's largest private property insurer.
By:
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WKRG-TV
Published: December 12, 2008
Published: December 12, 2008
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