Rate Hikes Begin
Florida Farm Bureau, one of the state's most conservative insurers,
is requesting a 30.3 percent hike starting Oct. 1. That's after cutting
rates 24.5 percent in June to reflect what regulators said would be the
savings by buying cheap reinsurance from the state. Those reductions are
averaging 12 percent statewide, half of what lawmakers were told to expect.
Now it is time for Farm Bureau -- and all other regulated home
insurers in Florida -- to begin submitting their so-called "true-up"
filings. Due Sept. 1, they allow insurers to reflect the actual savings
gained from the state backup.
The Office of Insurance Regulation has set a July 10 public hearing
on Farm Bureau's request.


About Me: Paige is a reporter at the Florida Capital Bureau.








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