The Florida Office of Insurance Regulation disapproved a rate increase filing submitted by United Services Automobile Association, USAA Casualty Insurance Co. and USAA General Indemnity Co.
As a result of the disapproval, the OIR canceled an Oct. 9 public hearing.
In their July 30 filing, the insurers proposed a 53.9 percent statewide average increase in homeowners insurance rates.
Florida regulators determined that USAA’s filings were incomplete and were not certified as required by state law.
In a letter sent to the insurers last week, OIR advised that the filing was disapproved and required to be re-filed with the correct certification in place by company officers.
Source: Florida Office of Insurance Regulation
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