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.
Opportunity for Private Flood Insurers With Threat of Another NFIP Lapse 
GEICO Settles Call-Center Worker Suits for $940,000; Attorneys Get Half 
LA County Told to Pause $4B in Abuse Payouts as DA Probes Fraud Claims 
Accuweather: Winter Storm to Cause Up to $115B in Damage, Economic Losses 
