Category: Florida News

State Farm requests 47% rate hike on homes

Jul 17, 2008

Florida Today–July 16, 2008 THE ASSOCIATED PRESS TALLAHASSEE — State Farm asked Florida insurance regulators today for a 47.1 percent increase on its homeowners policies in the state. The Illinois-based company, which is the largest private homeowners’ insurer in Florida …

State Farm’s rates could rise 70% for some

Jul 17, 2008

State Farm Florida has requested an average 47 percent rate increase for its homeowner policies. BY BEATRICE E. GARCIA PHILIP BROOKER / MIAMI HERALD FILE Miami Herald–July 17, 2008 State Farm Florida, the state’s largest private home insurer, wants to …

State Farm plans to drop 50,000 policies

Jul 17, 2008

South Florida Business Journal–July 17,2008 00:00 by Biz-Journal-SF State Farm Florida Insurance Co. said it will not renew about 50,000 Florida homeowner policies, starting Jan. 1. But some or all of those cancellations might not happen because the Florida Office …

Florida awarded $21.5M in Bristol-Myers Squibb settlement

Jul 17, 2008

South Florida Business Journal–July 16, 2008 South Florida Business Journal Florida was awarded $21.5 million as part of a global settlement with Bristol-Myers Squibb Co. and its former wholly owned subsidiary Apothecon, Attorney General Bill McCollum said Wednesday. The state …

$250 fire-rescue fee hot topic in Gables budget workshop

Jul 17, 2008

Miami Herald–July 16, 2008 BY ELAINE DE VALLE In his presentation at the Coral Gables City Commission’s first budget workshop, City Manager David Brown stressed the positive: Many city homeowners could see tax decreases next year for the first time, …

Capitol to Courthouse Headliners: Thursday, July 17

Jul 17, 2008

                  Above:  Florida Governor Charlie Crist visited this week with Lord Peter Levene, Chairman of Lloyd’s of London to discuss reinsurance policies. Below:  Florida Insurance Commissioner Kevin McCarty, Governor Charlie Crist, and …

Small insurance firms race to Florida

Jul 16, 2008

Bradenton Herald–July 16, 2008 By BRIAN NEILL Michael Gold says he got tired of seeing Florida homeowners overcharged for their property insurance. After all, Gold says, his own insurance policy had jumped 400 percent. So Gold pulled some investors together …

Insurance Agents, Travelers, Nationwide Urge Coastal Wind Policy

Jul 16, 2008

Insurance Journal–July 16, 2008 Travelers, Nationwide Mutual and two leading national insurance producer organizations are supporting a plan they say will make private windstorm insurance more affordable and available in coastal areas. Federal legislation would be required to enact the …

Producer Groups and Carriers Promote Cat Plan

Jul 16, 2008

National Underwriter–July 15, 2008 NU Online News Service Two major agent broker trade groups and two leading property-casualty insurance carriers have banded together to ask Congress to promote a plan to spread coastal risk across state boarders. In statements released …