Search
 

State Farm, Texas DOI Spar Over Homeowners Rate Hikes

State Farm Insurance requests to hike Texas homeowners rates by over 13 percent have sparked an extended battle with the Texas Department of Insurance, which called the proposed hikes "excessive."

By Caroline McDonald | Updated on May 31, 2010

NU Online News Service, June 1, 3:55p.m. EDT

State Farm Insurance requests to hike Texas homeowners rates by over 13 percent have sparked an extended battle with the Texas Department of Insurance, which called the proposed hikes “excessive.”

Kevin Davis, spokesperson for State Farm Lloyd’s, a Texas subsidiary, explained, “Prior to June of 2008 we had been unable to change our base rate for more than four years. During that time, the costs of everything related to insurance increased.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.