A post here yesterday reviewed rate hike requests in Florida from CatClaims Property Insurers. Reports were addressed that in a recent hearing a major Property Insurer was questioned hard about its CatClaims Computer Model. Today the major media report that the same Property Insurer reduced its request for an overall hike to 19.1 percent from its previous request for a 24.2 percent raise in Property Insurance Premiums in Florida. Kathy Bushouse, "Allstate Scales Back Rate-Hike Request" (South Florida Sun-Sentinel [Ft. Lauderdale], Posted Online Election Day, November 7, 2006).
Stay tuned to see if the Florida Office of Insurance Regulation approves the lower request. In the meantime, compare the request to this List of Rate Increase Requests as of Sunday, November 5, 2006 (St. Petersburg Times Online) showing 10 other previous requests by CatClaims Insurers for rate increases or higher Premiums in Florida, and you can also see my post here yesterday summarizing that list in a Scorecard for easier reference.
REMINDER: THE CONTENTS OF THIS BLOG DO NOT MAKE AN ATTORNEY-CLIENT RELATIONSHIP. ALWAYS CONSULT THE CASES AND LAWS OF EACH PARTICULAR JURISDICTION AND AN ATTORNEY IN AND FAMILIAR WITH THE PARTICULAR LEGAL ISSUE, THE JURISDICTION AND ITS LAWS, WHENEVER YOU TRY TO ADDRESS OR RESOLVE ANY LEGAL QUESTION.
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