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Wed April 14, 2010
State Farm Tries To Block Rate Disclosure
By KRWG News
Texas – State Farm Insurance is heading to court in a disclosure battle with regulators over the state publicizing its rates.
A court hearing is scheduled Thursday in Austin over the lawsuit, filed in late March by the state's largest property insurer.
State Farm, after filing twice in eight months for higher rates, seeks to block the Texas Department of Insurance from publicizing documents related to the increases.
The Dallas Morning News reported Wednesday that the figures represent a statewide increase of 13 percent for homeowner rates.
Company representatives say State Farm is just protecting its financial interests and those of its 1.2 million Texas customers with homeowner policies.
Regulators say all documents associated with the rate filing are public information.
Information from: The Dallas Morning News, http://www.dallasnews.com
Copyright 2010 The Associated Press.