$41 Million
The amount Florida residents saved last year thanks to a 10-day sales tax reprieve on back-to-school and hurricane supplies. They will not see similar savings this year because the temporary suspension of the state’s 6 percent sales tax was jettisoned in May.
$25,000
The minimum medical malpractice award against a physician that will trigger posting by the North Carolina Medical Board on its Web site. The amount is the level at which a doctor’s malpractice insurance premiums are affected.
47.1%
The increase in Florida homeowners’ insurance rates that State Farm Florida Insurance Co. filed with the Florida Office of Insurance Regulation on July 16. A public hearing will be held on Aug. 12 in Tallahassee.
12-18%
The average increase in State Farm’s homeowners rates for coastal Alabama homeowners in Mobile and Baldwin counties. State Farm will also require a hurricane deductible equal to 5 percent of the value of a policy for renewing Mobile and Baldwin customers. Those customers will pay a 1 percent deductible for other losses, including fires and thefts. Elsewhere in Alabama, State Farm said rates will drop by an average of 0.9 percent.
$2.5 Billion
The amount that North Carolina’s Beach Plan could handle in losses, according to insurers. The companies warned that a major storm could lead to billions more in damages in arguing that the state’s coastal plan is under-funded. Bob Herlong, Property Casualty Insurers Association of America, said additional losses would have to be assessed, leading smaller ones to bankruptcy and burdening others.
3.6%
Total commissions and fees revenues Florida-based Brown & Brown Inc. reported for the second quarter of 2008 over the second quarter of 2007. The company’s net income for the second quarter of 2008 was $40,398,000 compared with $52,012,000 for the same quarter of 2007. Excluding the gain of $9,823,000 on the sale of Rock-Tenn shares in the second quarter of 2007, net income for the second quarter of 2007 was $45,969,000.
Topics Florida State Farm
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