Nationwide is seeking a homeowners insurance rate increase of nearly 70 percent in Florida while decreasing the number of policyholders by 38,000, according to an insurance department official.
Bob Lotane, a spokesman for the Office of Insurance Regulation, said Nationwide's recent rate reduction request is only one of an ongoing set of Florida market maneuvers by the company.
Most recently, Nationwide Insurance Company of Florida, a subsidiary of the Columbus, Ohio-based carrier, submitted a 4.5 percent statewide reduction request.
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