HomeInsuranceAnother Florida Insurance Company Seeking Rate Hike, yet again

Another Florida Insurance Company Seeking Rate Hike, yet again

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.

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