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State Farm asks for a 67 percent increase

State Farm Florida Insurance Co. now wants a 67 percent average statewide property insurance rate increase, months after Florida Insurance Commissioner Kevin McCarty said he would reject the insurer’s proposed 47 percent rate boost.

State Farm, the state’s largest private home insurer, has appealed to the Division of Administrative Hearings and in its final submission to Judge Daniel Manry, the insurer says it initially requested a smaller price increase “in order to obtain quick approval.” The judge’s ruling is expected this week.

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