Florida Office of Insurance Regulation To Answer Questions About State Farm Florida Today
Aug 6, 2009
The Florida Office of Insurance Regulation (“OIR”) will hold a “media availability” today, August 6, at 12:15 p.m., at which OIR representatives will be available to answer media questions about State Farm Florida’s recent rate filing that would modify or eliminate its current policyholder discounts.
Details of the event are:
Who: OIR General Counsel Steve Parton and Deputy Insurance Commissioner for Property and Casualty Belinda Miller
What: Media availability to answer questions on State Farm Florida’s proposed elimination or modification of various discounts offered in State Farm’s insurance rating plans.
When: Thursday, August 6, at 12:15 p.m.
Where: Room 116 of the Larson Building, 200 East Gaines Street, Tallahassee
The call-in number for this meeting is: 888.808.6959; conference code: 4135119
A Colodny Fass representative will attend the event and provide a report on the proceedings.
A press release from the OIR about the event is reprinted below.
Should you have any questions or comments, please contact Colodny Fass.
MEDIA ADVISORY
FOR IMMEDIATE RELEASE
Aug. 6, 2009
The Florida Office of Insurance Regulation (Office) will have representatives available to answer questions about the Office’s review and disposition of State Farm Florida’s filing to eliminate and modify the discounts it offers its policyholders.
WHO: Steve Parton, General Counsel and Belinda Miller, Deputy Insurance Commissioner for Property and Casualty
WHAT: State Farm Florida requested the Office to consider the elimination and modification of various discounts in its rating plan. Those discounts not required by Florida law were approved for elimination and the overall premium impact of the approved changes to the rating plan is 28.4 percent. Mitigation credits are required by law and the Office is not allowing the company to eliminate or reduce them. According to Rule 69O-170.017, Florida Administrative Code, a detailed study justifying the loss mitigation discount reductions is required to do so. Copies of the Office’s letter to the company will be available in room 116 and a link to the letter will be inserted into this document on our Web site after 12 noon today.
WHEN: Thursday, Aug. 6 at 12:15 p.m.
WHERE: The Larson Building, Room 116, 200 E. Gaines Street
CONTACT: Tom Zutell at 850-413-2515 or Tom.Zutell@floir.com
For those unable to attend, a conference bridge is available by calling: 888.808.6959 Enter conference ID 4135119
Please mute your phone if you will be listening on the conference line.
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