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Posts Tagged ‘drops

TALLAHASSE, Fla., State Farm Florida dropped its plan to withdraw from the property insurance market in hurricane-prone Florida on Wednesday as part of a settlement with state regulators that includes an average 14.8 percent rate increase for homeowners and condominium owners.

The agreement also lets the insurer, which wants to reduce exposure to the greatest storm risks, not renew about 15 percent of its policies.

The deal resolves Read the rest of this entry »

TALLAHASSE, Fla., State Farm Florida dropped its plan to withdraw from the property insurance market in hurricane-prone Florida on Wednesday as part of a settlement with state regulators that includes an average 14.8 percent rate increase for homeowners and condominium owners.

The agreement also lets the insurer, which wants to reduce exposure to the greatest storm risks, not renew about 15 percent of its policies.

The deal resolves Read the rest of this entry »

TALLAHASSE, Fla. ? State Farm Florida dropped its plan to withdraw from the property insurance market in hurricane-prone Florida on Wednesday as part of a settlement with state regulators that includes an average 14.8 percent rate increase for homeowners and condominium owners.

The agreement also lets the insurer, which wants to reduce exposure to the greatest storm risks, not renew about 15 percent of its policies.

The deal resolves Read the rest of this entry »

OLDWICK, N.J.?The U.S. property/casualty insurance industry’s first-quarter net income dropped 87% to $1.2 billion as underwriting losses and investment returns dragged down results, a rating agency said Friday.

Net income for commercial lines dropped 52.9% to $1.6 billion in the first quarter of this year compared with the same quarter last year, A.M. Best Co. Inc. said in a special report to be released Monday.

Net premiums Read the rest of this entry »