Forum Discussion
Jim_Shoe
Aug 25, 2014Explorer
I retired from a Property and Casualty insurance company. I was an Actuary. The individual states each regulate their own insurance rates. Your home state may set the rates that all companies must charge for the same coverage, some require that you file your rates with the regulating authority and get approval before using them, and some allow you to charge whatever you choose for each individual policy. (Pretty rare).
In Florida, you can't just write insurance on property in the middle of the state. You're required to also sell a percentage of your policies along both coasts where the hurricanes happen.
And I've been retired too long to remember how Oregon handles it.
In Florida, you can't just write insurance on property in the middle of the state. You're required to also sell a percentage of your policies along both coasts where the hurricanes happen.
And I've been retired too long to remember how Oregon handles it.
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