The initial request was denied by OIR because it was unsupported. State Farm subsequently withdrew one of the filings and said it would amend the other. The 52.7 percent “amended rate agrees with the OIR's evaluation and was confirmed when company data was submitted to the public hurricane model.”
Florida Insurance Commissioner Kevin McCarty commented on the approved rate increase, "While this approved rate is sharply less than what had originally been filed it is still substantial, and I am deeply concerned about the effect it will have on the household budgets of Floridians, particularly those with low incomes or on fixed incomes.”
What is the commissioner going to do in order to prevent homeowner insurance companies from pushing homeowners into foreclosure?
Isn't it bad enough taxes in South Florida keep escalating almost at the rate of gasoline prices? Are we, homeowners, supposed to turn the other cheek and take another slap there, too?
Is there a way to put a stop to these greedy blood-suckers and save thousands of families from losing the home they've worked so hard to acquire?
What in the world has happenned to the so-called "American Dream"?
George Leon
Posted by: George Leon | December 17, 2007 5:09 PM | Permalink to Comment