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January 03, 2005

MetLife Auto & Home Wants 16.8% Homeowners Rate Hike In Fla.; State Farm Ok'd For 5%

MetLife Auto & Home is the latest insurer in Florida to file for a statewide rate increase for homeowners policies with state regulators, but a company spokesman says its average 16.8% rate increase request is not a result of the four hurricanes that slammed the state during August and September.

Ted Mitchell, a spokesman for Met Life Auto & Home, said that the "loss drivers" impacting MetLife Auto & Home's rate hike request includes sinkholes, fire losses, and "general loss factors."

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Posted by Tom Troceen