http://www.collegecostshowmuch.com/2005/p_news/nit/iacpa-archieve/nit-staffers/top49.html
percent statewide average “State Farm’s petition for hearing was commissioner’s office General Counsel SteveParton “In our opinion, they did not demonstrate that there were any material issues of fact in They basically just said that they disagree with the reasonas we gave in the notice.” Statre Farm now has until Sept. 15 to amends its petition and resubmitr it. If it does not, then there will be no The company could withdraw it and file a new State Farm receiveda 52.8 percent overallo average increase in late 2006. The state cited 18 reasons why it was rejecting therate hike.
Among them: State Farm failedc to demonstrate that the net reinsurance costs includec in the filing did not result in excessive costs in violatiomn of therating law. A State Farm spokeswoman said the companyg believes that the evidence in support of its rate requesyis "overwhelming" and the company will continue to explore all of the optionzs available, including amending its petition and resubmitting it.
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