According to an article in the WCTV Tallahassee Headlines, only about half of the insurance companies doing business in Florida have complied with a new rate filing law. Insurers are supposed to pass property insurance savings on to consumers from the state's assumption of $15 billion in risk. So far, the results are mixed.
“We’ve seen some increases and we’ve seen some decreases ... on their original filings from March,” said an Office of Insurance Regulation spokesman.
The most upsetting has been the request by Allstate for an average 42% hike with another 28% hike for a subsidiary. These filings come at the same time the state has issued subpoenas to insurance companies to find out why rates have not decreased as expected.
To read the full report, go to Rich Stover's Sarasota Real Estate website.
Friday, October 5, 2007
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1 comments:
Guess what. Those fools in Tallahassee and the insurance industry are probably all laughing about this right now.
Sure your State legislator cares more about you than the money he needs for his re-election. Right !!!
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