Allstate Insurance moved a lot of it’s policyholder’s  to this company from the parent company All State Insurance company Mid 2009. Now the rate increase could amount to double those amounts here in South Florida. The average client could see $400 increases, but here in S. Florida that could be double and this is just an average. Even w/ Mitigation credits which could be lost if new inspections are not done, rates are heading up because of claims experience and the cost of Re-insurance. The meetings w/ the Insurance legislators from the OIR in Tall. will be held on 7/27. The increase  is expected to be approved and will begin quite quickly. This, yet another rate increase as we start to enter  peak  Hurricane season. The agents will most likely have to deal with lot’s of issues and the next step is usually non-renewals for exposure management.Let’s see how Hurricane season is, so please read the complete article below;

http://www.insurancejournal.com/news/southeast/2010/07/13/111543.htm

Advertisements