The Hartford had its turn yesterday before a special Florida Senate committee quizzing insurers about company practices and rates in the sunshine state.
Many of the questions revolved around the issue of profits, and whether the Hartford was seeking to make an excessive profit with their Florida rates. Specifically, members of the committee noted repeatedly a 2006 rate filing that included a profit factor of roughly 15 percent.
In response Thomas Johnston, senior vice president and chief actuary of property and casualty insurance for the Hartford, said the rates had received the okay from state regulators.
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