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Insurer Heritage withdraws 14.9% rate hike that was questioned as ‘greedy’

In an unusual move, one of Florida’s largest insurers has withdrawn its request for a state rate increase that would have averaged 14.9 percent and questioned by homeowner advocates as “greedy.”

Heritage Property & Casualty Insurance Co. chose to withdraw the filing for 2017 rates after regulators held “discussions” with the company on unspecified “items within the filing,” said Amy Bogner, spokeswoman for the Office of Insurance Regulation, said Tuesday.

Read more at the Palm Beach Post.

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