Subject
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 ratehearings@floir.com; the subject line of your e-mail should read “State Farm.”