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"Four more insurers that cover thousands of homes in Florida want to charge much higher rates, and one of them intends to nearly double customer premiums.
Florida Peninsula Insurance Co., United Property & Casualty Insurance Corp., Hanover American Insurance Co. and Amica Mutual Insurance Co. all asked state regulators over the weekend for substantial rate increases.
Boca Raton-based Florida Peninsula Insurance Co. asked for the highest, seeking permission to increase windstorm premiums by a statewide average of 81.4 percent for single-family homes and 76.6 percent for condominium policyholders.
The year-old insurer, which only covers the wind portion of homeowner policies, took 85,530 coastal customers' policies from state-backed Citizens Property Insurance Corp............
4 Insurance Companies Submit Requests for Rate Increases
"Four more insurers that cover thousands of homes in Florida want to charge much higher rates, and one of them intends to nearly double customer premiums.
Florida Peninsula Insurance Co., United Property & Casualty Insurance Corp., Hanover American Insurance Co. and Amica Mutual Insurance Co. all asked state regulators over the weekend for substantial rate increases.
Boca Raton-based Florida Peninsula Insurance Co. asked for the highest, seeking permission to increase windstorm premiums by a statewide average of 81.4 percent for single-family homes and 76.6 percent for condominium policyholders.
The year-old insurer, which only covers the wind portion of homeowner policies, took 85,530 coastal customers' policies from state-backed Citizens Property Insurance Corp............
4 Insurance Companies Submit Requests for Rate Increases