Florida’s Office of Insurance Regulation had approved nearly a hundred insurance rate increases – reflecting the dire insurance industry conditions in the state.
According to court documents obtained by News 6 WKMG, dozens of property insurance companies filed for insurance rate increases from January to September 2020. Almost a hundred of those rate applications were approved by the state regulator.
Many of the approved rate applications were double digit increases – increases that several industry experts have warned about since last year.