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Commissioner Comments On State Farm's 52.7 Percent Rate Request

Southeast News • July 19, 2006
According to the Florida Office of Insurance Regulation State Farm Florida Insurance Company is now requesting a statewide average rate hike of 52.7 percent, an amended rate request that agrees ...

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Subject: RE: State Farm's rate increase request

Posted On: July 22, 2006, 1:24 am CDT
Posted By: Tim G.
Comment:
It is my understanding that State Farm has taken the precaution of organizing independent companies ("State Farm - Florida", for example) in the states where there is a substantial risk of "spreading the joy" to policyholders in other states, for risks which are not common to those other states. While this decreases the ability to spread the risk, it allows for more accurate underwriting, and protects policyholders in other states from underwriting the costs of living on the coast. It also allows a carrier like State Farm to remain in the state of Florida, rather than pulling out completely and leaving a void of insurers.
Subject Posted By Posted On
RE: RE: State Farm's rate increase request Kevin
Jul 22, 2006, 7:39 pm
RE: State Farm's rate increase request Tim G.
Jul 22, 2006, 1:24 am
RE: RE: State Farm rate increase Kevin
Jul 21, 2006, 9:51 am
RE: State Farm rate increase Barbara Travis
Jul 21, 2006, 9:26 am
RE: State Farm rate increase Barbara Travis
Jul 21, 2006, 9:26 am
State Farm rate increase Kevin
Jul 19, 2006, 1:11 pm
State Farm's rate increase request Questions
Jul 19, 2006, 1:06 pm
State Farm rate increase KEVIN
Jul 19, 2006, 1:05 pm
State Farm's rate increase request questioning the validity
Jul 19, 2006, 1:05 pm
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