Yet another Florida insurance company is asking the state to hike their rates.
According to the Office of Insurance Regulation, Cypress Property & Casualty Insurance Company of Jacksonville will have a public hearing on April 3rd at 2:30 p.m.
The company is asking for an increase of 18.7% statewide in its Homeowners Multi-Peril for Condo Owners (HO-6) policies.
According to a newsletter released by former Deputy Insurance Commissioner Lisa Miller, “the use-and-file submission request will be for new and renewal business effective September 9, 2023.” It will affect about 7,300 existing policies.
Apirl 2024 Cypress Rate Hearing Agenda by ABC Action News on Scribd
This latest request comes after recent hearings for increases by Amica Mutual, Castle Key, and American Traditions.
Clinton Mora is a reporter for Trending Insurance News. He has previously worked for the Forbes. As a contributor to Trending Insurance News, Clinton covers emerging a wide range of property and casualty insurance related stories.