The Florida Office of Insurance Regulation announced a public hearing will be held to discuss rate hikes Cincinnati Insurance Co. and Cincinnati Indemnity Co. submitted.
The Cincinnati companies requested average statewide rate increases of 36.8 percent and 39.6 percent for their homeowners and dwelling fire programs, respectively.
The proposed rate increases would be effective March 1, 2009, for new and renewal business. The requested rate increases are not uniform around the state, and some policyholders would be subject to rate changes that are higher or lower than the averages requested, if approved.
The public hearing is scheduled for Oct. 10 at 9 a.m. in room 401 at the Senate Office Building in Tallahassee.
Source: Florida Office of Insurance Regulation
Was this article valuable?
Here are more articles you may enjoy.
AIG Executive Chair and Former CEO Zaffino Set to Exit for Palantir 
Judge Says Smucker’s Lawsuit Against Trader Joe’s Over Frozen PB&J Can Proceed 
Aon Acquires USI Insurance From KKR in $17 Billion Deal Targeting Middle Market 
As AI Agents Go Rogue, Cyber Insurers Are Adapting Their Policies 
