TALLAHASSEE – Florida has OK’d

McCarty said the intent of the increase is to get Citizens’ rates closer to an actuarially sound level sought by the Legislature, which capped Citizens’ annual rate increases at 10 percent.

rate increases for the state-backed Citizens Property Insurance Corp.
Florida Insurance Commissioner Kevin McCarty signed an order Thursday establishing rates for Citizens’ high-risk accounts. The approved rates are close to those requested by Citizens at a hearing this month.
Mobile home owners will see an 11 percent increase in insurance policy costs in 2010. Condo associations will see rates increase 9.4 percent. Nonresidential commercial property rates will go up 9.3 percent. And homeowners will see a 5.4 percent increase.

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