Judges reject challenge to Texas State Farm rates
AUSTIN, Texas (AP) Two administrative law judges have rejected a challenge to a recent 20-percent rate hike for Texas homeowners covered by State Farm Lloyd's.
The Dallas Morning News (http://dallasne.ws/171H7QZ ) reports the judges decided Monday that the premiums for 1.2 million homeowners are not excessive or unreasonable.
The decision now goes to Texas Insurance Commissioner Julia Rathgeber, who can accept the ruling or consider more arguments.
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The increase allows State Farm to collect an additional $317 million annually in premiums across Texas.
More at http://www.reporternews.com/news/2013/aug/20/judges-reject-challenge-texas-state-farm-rates/ .
[font color=green]Meanwhile, there still is no settlement of the legal case about excessive rates that were contested back in 2003. I have a couple of friends that are still waiting for a refund.[/font]