About Me: Paige is a reporter at the Florida Capital Bureau.
Nationwide's rate cut approved (quietly)
Without nearly as much fanfare as goes into rejecting rate hikes,
Florida insurance regulators wasted no time in approving Nationwide's
decision to go with the flow and cut home premiums an average 16 percent.
Florida insurance regulators wasted no time in approving Nationwide's
decision to go with the flow and cut home premiums an average 16 percent.
The filing with the Office of Insurance Regulation has been quietly
stamped "approved," pending receipt of final documents.
The approval brings total premium reductions since June to 21 percent
for the Florida insurer, exceeding the expectations and promises of
Florida's insurance consultants. The savings is despite Nationwide
Insurance Company of Florida's decision to buy $49 million in additional
reinsurance from its national parent as well as the private market.
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1 Comments:
I have also studied the insurance problem, just to find out that Florida losses are near the 10-year U.S. average. Insurance companies are canceling thousands of insurance plans only to offer insurance under sub-companies with higher rates. Florida keeps approving all these rate hikes.
Sign my petitions at "www.FloridaBallotInitiative.com" and we will have a choice in 2008 to cap insurance rates. Freedom isn't free; stupidity is very expensive.
Mailing Address:
Florida Ballot Initiative
P.O. BOX 7256 Jupiter
Florida, 33468
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Email: nativegator@msn.com
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www.floridaballotinitiative.com
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Pd. Pol. Adv. paid for by the Florida Ballot Initiative, Mailing Address: P.O. BOX 7256, Jupiter, Florida, 33468
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