Category: Florida News

Brevard homeowners would pay 59% more for State Farm coverage BY PAUL FLEMMINGFlorida Today–August 13, 2008 State regulators on Tuesday aggressively grilled State Farm officials asking them to justify their request for an average 47 percent increase in homeowners’ insurance …

St. Petersburg Times–August 13, 2008 By Tom Zucco, Times Staff Writer TALLAHASSEE — When State Farm officials appeared before Florida regulators Tuesday to seek a 47.1 percent statewide average rate hike, Office of Insurance Regulation general counsel Steve Parton zeroed …

News-Press–August 12, 2008 I know, “when it rains, it pours.” But in the midst of our economic storm, State Farm brings Noah to mind. Amazingly, State Farm officials kept a straight face Tuesday in trying to defend their requested 47 …

To view a complete story, click on a headline below: State Farm pressed on hike Regulators demanded explanations from State Farm as it defended its 47.1 percent rate-increase request at a public hearing. Regulators grilled State Farm officials Tuesday, demanding …

On Tuesday, August 12, 2008, the Florida Office of Insurance Regulation (“OIR”) held a hearing to address State Farm Florida Insurance Company’s (“State Farm”) request for a 47.1 percent overall increase for new and renewal homeowners’ insurance policies. The increase …

Florida consumers have been told mitigation could be the sure way to reduce insurance costs, but one insurer says it’s killing its bottom line and wants a big rate hike. BY BEATRICE E. GARCIAMiami Herald–August 12, 2008 When Edgar Wilson …

St. Petersburg Times–August 11, 2008 By Tom Zucco, Times Staff Writer TALLAHASSEE — Instead of facing a proposed 47.1 percent average increase in property insurance premiums, State Farm’s nearly 1-million customers statewide should see rates cut almost 40 percent, according …

The Tampa Tribune–August 12, 2008 By JEROME R. STOCKFISCH In February, the Illinois-based State Farm group of insurance companies reported the company’s fifth consecutive profitable year. Five months later, State Farm’s Florida operation asked regulators for an average rate increase …

PR Newswire–August 12, 2008 Intent on demonstrating that there is plenty of room for "little guys" to compete successfully against the direct-writing monoliths of the online insurance arena, Florida Home Insurers, Inc. announced that more than 8,000 Floridians visited its …

The Florida Times-Union–August 12, 2008 By Special to the Times-Union On July 29, Florida’s Board of Administration voted to spend $224 million in return for a well-known billionaire’s pledge. ————————————————–     ————————————————– Warren Buffett, the “Oracle of Omaha,” guaranteed that …