A Republican candidate for governor has asked the Alabama Department of Insurance to reconsider rate increases on homeowners insurance recently approved for three of the four companies that insure the most homes in the state.
The former director of the Alabama Department of Economic and Community Affairs, Bill Johnson, said the changes would raise rates by nearly 20 percent for most homeowners. He said the increase comes during a recession when homeowners are hurting economically. He said it’s also been several years since the state was hit by a major hurricane.
Deputy Insurance Commissioner Ragan Ingram said the rate increases were approved after a lengthy review process. He said while there has not been a hurricane, many homes have been damaged in Alabama in recent years by tornados, hail and other weather events.
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