The Real Deal Miami

Florida rejects State Farm appeal

March 25, 2009 10:50AM

The Office of Insurance Regulation denied State Farm Florida’s bid for a hearing to appeal Florida Insurance Commissioner Kevin McCarty’s requirements of the company as it gets ready to exit Florida’s property insurance market. State Farm, the largest private property insurer in Florida, said in January that it plans to drop its 1.2 million property insurance policies after its request to raise rates as much as 47 percent statewide was denied.