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Press Release

Standard Rating Territories
Monday, January 30, 2006
Contact:    Beth Scott
                850/ 413-2515
 
Tallahassee, Fla. - Pursuant to Senate Bill 1486, passed by the Florida Legislature in 2005, and as required by section 627.062 (4), Florida Statutes, the Office of Insurance Regulation has developed a proposed plan on standard rating territories to be used by all authorized property and casualty insurers for residential property insurance.
 
The establishment of rating territories within a state or region within the personal property insurance market has proven a useful tool over time. In addition to private insurers establishing rating territories, a number of states define standard rating territories for particular lines of business, including homeowners insurance and personal automobile insurance.
 
 
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