Florida regulators have denied a request by United Services Automobile Association Insurance Company for permission to increase their rates by an average of 40 percent statewide.
Florida Insurance Commissioner Kevin McCarty announced the denial yesterday, saying that USAA hadn't made its case for the increase to its residential property rates.
"During the public hearing we heard from many policyholders whose household budgets are extremely strained by rising property insurance premiums," said Mr. McCarty.
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