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Florida Regulators May Reject State Farm Rate Increase

Southeast News • August 14, 2008
A State Farm rate increase appears in jeopardy after regulators grilled company officials for hours about a request to jack up rates in Florida by 47.1 percent. Florida's insurance consumer ...

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Subject: Mitigation and credits

Posted On: August 14, 2008, 2:12 pm CDT
Posted By: Tom
Comment:
Response to "just to clarify" - the mandated credits tied to mitigation efforts are claimed by State Farm to be overstated, and not yet adequately tested in the real world. Should the credit be 10% or 20%? Nobody knows for sure. State Farm claims the OIR overstated the value of mitigation efforts and thus drastically reduced the premium coming in the door. If their right, the rates are now actuarially unsound.

I have no idea who is right here, but in view of the fact that Citizen's rates are known to be inadequate, and the reinsurance pool is also known to be inadequate, I tend to believe State Farm a bit nore than I do the OIR.
Subject Posted By Posted On
State Farm Florida just been dropped jupiterJoe
Aug 20, 2008, 9:55 am
RE: RE: RE: RE: SF Rate Hike Request: john thomas
Aug 19, 2008, 9:48 am
Most recent rate hike request by State Farm Florida Arthur L. Mackey
Aug 16, 2008, 7:55 am
RE: RE: RE: SF Rate Hike Request: Pud
Aug 15, 2008, 10:53 pm
RE: RE: SF Rate Hike Request: nobody important
Aug 15, 2008, 9:58 pm
RE: SF Rate Hike Request: Pud
Aug 15, 2008, 7:50 pm
State Farm Florida Sam
Aug 15, 2008, 1:57 pm
RE: RE: RE: SF Rate Hike Request: nobody important
Aug 15, 2008, 12:17 pm
RE: RE: SF Rate Hike Request: Pud
Aug 15, 2008, 11:17 am
RE: SF Rate Hike Request: How True
Aug 15, 2008, 9:34 am
RE: SF Rate Hike Request: Nobody Important
Aug 15, 2008, 9:28 am
SF Rate Hike Request: Danny
Aug 15, 2008, 9:09 am
RE: RE: RE: RE: RE: SF Rate Hike Request: Tom Banner
Aug 15, 2008, 7:51 am
RE: RE: RE: RE: SF Rate Hike Request: Nobody Important
Aug 15, 2008, 7:16 am
RE: RE: RE: SF Rate Hike Request: Pud
Aug 15, 2008, 5:39 am
What Rate Hike? Eddie Crust
Aug 14, 2008, 10:01 pm
RE: RE: SF Rate Hike Request: nobody important
Aug 14, 2008, 7:28 pm
RE: SF Rate Hike Request: Pud
Aug 14, 2008, 6:51 pm
Duh to Florida's Ins Dept and Rate Hike Ed Bob
Aug 14, 2008, 2:32 pm
RE: Mitigation and credits Nobody Important
Aug 14, 2008, 2:21 pm
Mitigation and credits Tom
Aug 14, 2008, 2:12 pm
SF Rate Hike Request: Danny
Aug 14, 2008, 2:01 pm
RE: RE: Rate Hike Just to Clarify
Aug 14, 2008, 1:32 pm
RE: Rate Hike Bill
Aug 14, 2008, 1:28 pm
RE: Rate Hike Pat Beranger
Aug 14, 2008, 1:13 pm
Rate Hike Ed
Aug 14, 2008, 1:02 pm
RE: Big Surprise SWFL Mark
Aug 14, 2008, 12:51 pm
Big Surprise Nobody Important
Aug 14, 2008, 10:24 am
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