Press Release

 

Tallahassee (September 12, 2006) – The Florida Office of Insurance Regulation (Office) has scheduled public hearings on rate filings submitted by Coral Insurance Company, Cincinnati Insurance companies , Home Pointe Insurance Company, and Safeway Property Insurance Company.  Hearings for these rate filings will be held in Tallahassee, in the Senate Office Building, room 401, at The Capitol.  The hearings will be held on September 15, 2006 and on September 21, 2006. 

 

Coral has requested a 44.5 percent statewide average rate increase for its homeowners insurance line of business.  The public hearing for this filing will take place September 15, 2006, at 10:00 a.m. 

 

Cincinnati Insurance Company, Cincinnati Indemnity Company and Cincinnati Casualty Company have filed for a statewide average increase in rates of 78.9 percent for their homeowners insurance in Florida.  The public hearing for this rate filing will occur September 21, 2006, at 10:00 a.m. 

 

Home Pointe submitted a rate filing for a statewide average increase of homeowners rates in Florida of 92.4 percent, while also requesting a statewide average increase of 24.8 percent for its dwelling fire business.  The public hearing for these rate filings is scheduled for September 21, 2006, at 1:00 p.m. 

 

Safeway filed for a statewide average increase of 109.9 percent for its mobile homeowners business in Florida. The public hearing for this rate filing will take place September 21, 2006, at 1:00 p.m. 

 

The requested rates are not uniform and some areas in the state are subject to higher or lower rate changes.  Florida law requires that the Office hold public hearings on rate filings for statewide average increases exceeding 15 percent or for any reason the Office deems necessary. 

 

These hearings are open to the public and input from interested parties will be accepted.  The hearings will be taped by the Florida Channel and video will be available online at http://www.floir.com/Sections/PandC/ProductReview/RateHearingVideo.aspx.

 

Those unable to attend the public hearings are welcome to forward comments to the Office at ratehearings@fldfs.com.  The subject line of emails should include the name of the company of interest and the words rate hearings.

 

Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this hearing should telephone Sam Coskey at (850) 413-2616 or e-mail him at sam.coskey@fldfs.com at least 48 hours prior to the hearing.

 

 

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