Florida Insurance Firm Asks for 27% Hike in Homeowner Premiums

The requested rate hike is still under review by state regulators.

Palm Coast, FL – May 23, 2011

Fidelity National Property and Casualty Insurance Co. asked Florida insurance regulators this week to allow the firm to raise its homeowners’ insurance rate by 27.6% to offset an influx of claims, according to Stephen Alexander, an actuary with the Florida Insurance Consumer Advocate’s office.
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4 replies
  1. John Boy
    John Boy says:

    Insurance Increase Request

    The State should send these idiots packing, there needs to be documentation as why an increase is requested. Not to have full and proper documentation should result in an immeadiate rejection with a stipulation that the company cannot file further requests for at least five (5) years.

  2. jim
    jim says:


    They want a 27% raise in premiums to "offset an influx of claims"? Influx indicates they have some claims. How many? The total of the claims? I thought being in business meant that you take on risks. If the homeowners have to continually give you working capital then you should be in another business!!

  3. Shirley
    Shirley says:


    Where does this stop? Where is the documentation? Why are we responsible to bail out these insurance companies? A 27% hike in premiums is unreasonable. SBT

  4. Alex
    Alex says:


    ""We did not receive much background as to why their claims or the severity of their claims are increasing," Alexander said. "I think somebody needs to look at that. I have a high degree of confidence that this (the influx of foreclosures) is what is behind this, but to what extent I do not know."

    Why should foreclosure affect my insurance premiums?

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