Florida-backed insurer seeks rate hike to offset potential storm losses
Florida's Citizens Property Insurance Corp. is seeking to increase rates for its risky policies by an average of 7.5% to offset huge potential losses from a major hurricane. Insurance Information Institute President Robert Hartwig backed the move, but lawmakers insisted on a lower rate hike as the insurer failed to account for revenues worth about $100 million from recent rate increases.
NYTimes.com
| 11/12
This story published in NAMIC dailyLead® on 11/13/2009
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