State Farm Insurance Company has requested an average statewide rate change of +35.1% for its rental dwelling program. The proposed change would result in an average premium effect of +25.6%. The reason for the difference between the rate change ...

 

DEPARTMENT OF FINANCIAL SERVICES
OIR – Insurance Regulation

The Office of Insurance Regulation announces a hearing to which all persons are invited.
DATE AND TIME: October 9, 2013, 9:00 a.m.
PLACE: Larson Building, Room 116, 200 E. Gaines Street, Tallahassee, FL
GENERAL SUBJECT MATTER TO BE CONSIDERED: State Farm Insurance Company has requested an average statewide rate change of +35.1% for its rental dwelling program. The proposed change would result in an average premium effect of +25.6%. The reason for the difference between the rate change and the premium effect is that the company has also requested to eliminate all flat deductibles and create minimum deductibles of 2% for hurricane and 1% for all other perils.
An agenda listing the rate filings subject to this hearing will be posted on the Office’s website at http://www.floir.com.
Florida law allows the Office of Insurance Regulation to hold a public hearing for any purpose within the scope of the Insurance Code deemed to be necessary. Input from the insurer as well as interested parties will be received at this public hearing. If you are unable to attend this public hearing, please forward your comments to the Office of Insurance Regulation at [e-mail]; the subject line of your e-mail should read “State Farm.”
A copy of the agenda may be obtained by contacting: Kenneth Tinkham, Esquire, [phone] or Gloria Merritt, [phone].
Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this workshop/meeting is asked to advise the agency at least 48 hours before the workshop/meeting by contacting: Gloria Merritt at [phone] or e-mail her at [e-mail]. If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).
For more information, you may contact: Kenneth Tinkham, Esquire, [phone] or Gloria Merritt, [phone].