The Real Deal Miami

State Farm still pushing rate hike

September 17, 2008 10:02AM

If at first, you don’t succeed, follow State Farm’s example. Florida regulators are considering another, more detailed request from the insurer for a proposed 47 percent average statewide rate hike. Insurance Commissioner Kevin McCarty has said he plans to reject the rate hike and denied an administrative hearing earlier this month on the proposal because he said State Farm didn’t adequately justify the need for it. The company added more information to its request and said they still deserved a hearing.