HOMEOWNERS INSURANCE
House panel meets on catastrophe insurance
Members of Congress heard how a national catastrophe insurance pool could help Florida.
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A rating agency downgraded two Allstate Insurance Co. affiliates that are selling insurance in Florida.
Members of Congress heard how a national catastrophe insurance pool could help Florida.
Gov. Charlie Crist vetoed a bill that might have tempted State Farm to keep writing policies in Florida.
A.M. Best downgraded State Farm Insurance Florida to B (fair) from B+ (good), citing a sharp decline in net premiums written because of nonrenewals, steep mitigation discounts the company has been required to give policyholders and higher reinsurance costs.
A reduction in the workers' compensation rate is expected to save Florida employers $172 million on their premiums after it goes into effect July 1.
Rates for holders of Citizens Insurance Corp. homeowners policies are likely to rise by at least 5 percent, possibly more.
An improving credit market could ease pressure on Florida's Hurricane Catastrophe Fund.
Florida regulators are getting tough on the insurers with subpoenas for Allstate and Cincinnati Indemnity records.
Many drivers are confused about what auto coverage they need until the no-fault law returns in January.
More than half of all insured Florida homeowners will see modest rate cuts in the next 12 months, but some insurance companies are still asking for large rate hikes.