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Press Release

Public Hearings Set For Rate Filings From Four Insurance Companies
Wednesday, September 06, 2006
 
 
Tallahassee, Fla. – The Florida Office of Insurance Regulation (Office) has scheduled public hearings on rate filings submitted by Companion Property and Casualty Insurance Company, Vanguard Fire and Casualty Company, Omega Insurance Company, and Tower Hill affiliate insurance companies.  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 8, 2006 and on September 14, 2006. 
 
Companion has requested a 41.1 percent statewide average rate increase for its condominium homeowners insurance.  The public hearing for this filing will take place September 8, 2006, at 10:00 a.m. 
 
Vanguard has filed for a statewide average increase in rates of 80.7 percent and 84.1 percent for two of its homeowners programs in Florida.  The company has also filed for an average increase of 111.8 percent for its dwelling fire insurance in the state.  The public hearing for this rate filing will occur September 8, 2006, at 1:00 p.m. 
 
Omega submitted a rate filing for a statewide average increase of homeowners rates in Florida of 18.7 percent, while also requesting a statewide average increase of 29.5 percent for its mobile homeowners line of business.  The public hearing for these rate filings is scheduled for September 14, at 10:00 a.m. 
 
Tower Hill companies filed for statewide average increases of 27.2, 21.5 and 18 percent for its various homeowners insurance lines in Florida as well as 32.9 percent for one of its dwelling fire insurance programs. The public hearing for this rate filing will take place September 14, 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 purpose within the scope of the Insurance Code deemed 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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