The Federated National Insurance has filed request with the Florida state regulators to hike the homeowners’ insurance rates by close to fifteen percent. The rate hike is primarily aimed at cover risk of hurricanes, rising construction prices and expensive reinsurance. The company had to make a large insurance payout in the previous year. The use of the ‘use and file’ option and the deliberate attempt to avoid a public hearing on the rate hike issue has irked those opposing this hike in home insurance premium.
January 5, 2006
Rise in home insurance rates to hurt policyholders
