The Hartford Insurance Group said it will not contest a decision in Florida denying a rate increase in its homeowners insurance, but the company plans to file for an increase for next year.
On Monday, Florida Insurance Commissioner Kevin McCarty affirmed a decision of an administrative law judge to deny Hartford Insurance Group's request for an increase in homeowner's insurance rates for the current rate year.
Today, a Hartford spokesman with the Hartford, Conn.-based insurer said the carrier would not appeal the administrative law judge's decision to a state court but would, as required by law, re-file for a rate increase for the coming year. The insurer has as yet not determined how much of an increase it will seek, the spokesman said.
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