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RateWatch: State Farm Asks for Higher Rates in Florida

State Farm Insurance, the third-largest property insurer in the state of Florida, has asked for an average statewide increase of 14.9% on insured homes there, as part of a plan to maintain a good fiscal status while restructuring the discounts and deductibles it currently offers. According to State Farm’s representatives, the rate request includes average […]

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Technology Causes Homeowners Insurance Rate Hikes in NC

Some homeowners in North Carolina will see their homeowner’s insurance get more expensive this year because of a change in fire ratings, but according to insurance company officials, the rate hikes aren’t because of public policy, but because of GPS technology. How does GPS affect insurance rates? Well, when insurers calculate premiums, one of the […]

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Aetna Suspends Rate Hike in California

Following in the footsteps of Anthem Blue Shield and PacifiCare, Aetna Inc. has become the third major health insurance company in California to announce that it was stepping back from its proposed rate increase there. Now, instead of roughly 43,000 Aetna policyholders being handed a rate hike of 17.9%, their insurance will go up only […]

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Ratewatch: Allstate to Raise Rates in Mississippi

According to the Mississippi Insurance Commissioner, Mike Chaney, Allstate customers in that state will be seeing a 19.4 percent increase in their homeowners insurance rates. The increase is likely to happen in June, and apply to both renewals and new policies. For nearly two years, Chaney has been in negotiations with Allstate about the size […]

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RateWatch: Michigan Judge Halts Blue Cross Rate Increase

A circuit court judge in Ingham County, Michigan has called a stop to Blue Cross Blue Shield’s planned rate increases there. The increases in question would have increased the cost of premiums by up to 66% for some senior citizens. The preliminary injunction, which was filed on Tuesday, requires that a public meeting be held. […]

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Texas Wind Insurance Assoc. Asks for 5% Increase

Some homeowners insurance in Texas is about to get a little bit more expensive, as the Texas Windstorm Insurance Association (TWIA) has filed for five percent increases in both commercial and residential rates, to go into effect on the first of next year. TWIA is the state’s “last resort” insurance company, providing wind and hail […]

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