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Article: The Palm Beach Post, Fla., Business Briefs Column.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- June 18, 2003
CopyrightCOPYRIGHT 2003 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Palm Beach Post, Fla. Knight Ridder/Tribune Business News
Jun. 18--WEST PALM BEACH -- REGULATORS BLOCK INSURANCE HIKE: State Farm Florida won't be able to raise prices on mobile home insurance by an average of 57.8 percent and by nearly 200 percent in some counties, the state Office of Insurance Regulation said.
State Farm's request did not support the need for the increase, regulators said.
State Farm has 21 days to appeal the decision and can charge the higher rates until the matter is decided.
If it loses the appeal, the insurer would have to refund any excessive charges that it has collected from policyholders.
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