Insurers seeking rate hikes

Jul 19, 2011

The following article was published in the Daytona Beach News Journal on July 19, 2011:

Insurers seeking rate hikes

By Tom Knox

Two Allstate Insurance subsidiaries are seeking rate increases of more than 30 percent each. It’s a potential rate hike that could affect nearly 9,000 policyholders of the two companies in Volusia and Flagler counties.

Castle Key Insurance Co. is requesting a 31 percent average hike, and Castle Key Indemnity Co. is seeking a 36 percent average rate increase. Both requests will be heard in a public hearing at 9 a.m. today in Room 401 of the Senate Office building in Tallahassee.

The insurance companies combine for more than 8,500 policies in force in Volusia County, and almost 200 in Flagler County.

The companies, based in Northbrook, Ill., were formerly titled Allstate Floridian Insurance Co. and changed their names two years ago.

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