Florida Should Require Praetorian Insurance to Cut Rates Charged to Homeowners by at Least 44 Percent

Washington D.C. – July 3, 2012 – (RealEstateRama) — In testimony filed today, the Consumer Federation of America (CFA) called for the Florida Office of Insurance Regulation (OIR) to require Praetorian Insurance Company to cut homeowners’ insurance rates by at least 44.1 percent. Praetorian sold in excess of $430 million in “force placed” insurance in Florida in 2011, as Balboa Insurance Company and QBE Specialty Insurance Company. Praetorian has requested that the rates for the largest insurer in the group, Balboa, remain unchanged.