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Allstate companies to receive hearing on rates

by Biz Journal SF - Oct 24,2006

Regulators have scheduled a public hearing on rate filings submitted by Allstate Floridian Insurance Co. and Allstate Floridian Indemnity Co.

The Florida Office of Insurance Regulation said the hearing for the filings are to be held in Tallahassee, in the Senate Office Building, room 401.

Allstate Floridian Insurance has requested an average statewide increase of 22.5 percent for homeowner's insurance rates.

Allstate Floridian Indemnity has requested an average statewide increase of 33.2 percent for homeowner's insurance rates.

The public hearing for the filings is to be at 1 p.m., Nov. 2.

The requested rates are not uniform, and some areas in the state are subject to higher or lower rate changes.

Florida law requires the OIR hold public hearings on rate filings for statewide average increases exceeding 15 percent or for any reason the office deems necessary.

The hearings are open to public input.

People unable to attend the public hearings may forward comments to the OIR at ratehearings@fldfs.com. The subject line of e-mails should read "Allstate Floridian Public Hearing."

Anyone requiring special accommodations to participate in the hearing should call Sam Coskey at (850) 413-2616 or e-mail him at sam.coskey@fldfs.com at least 48 hours before the hearing.

The Florida Channel tapes all public OIR rate hearings and should be available for viewing in two to three business days at www.floir.com/pcfr/ratehearingvideo.htm.

Earlier this month, the OIR issued a notice of intent to deny Nationwide Insurance Co. of Florida's request to increase residential property insurance rates. However, that increase would have been a statewide average of 71.5 percent.

At the time, the OIR said there was not sufficient support in Nationwide's filing to justify its request.

_____________________________________

© 2006 American City Business Journals, Inc.

 

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