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State Rejects Farm Bureau's Appeal To Raise Insurance Rates

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By RUSSELL RAY | The Tampa Tribune

Published: July 1, 2008

TAMPA - A request to raise home insurance rates for customers of the Florida Farm Bureau was rejected today in a final order issued by Florida's Office of Insurance Regulation.

The Florida Farm Bureau, which offers property insurance to its 140,000 members, originally requested to increase rates an average of 30.3 percent, but that was denied a year ago. The farm bureau appealed the state's decision.

In April, an administrative law judge recommended the state deny the request. Insurance Commissioner Kevin McCarty affirmed the recommendation today with a final order.

The order protects customers from "unnecessary and unsupported property insurance rate increases," McCarty said in a statement.

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