TALLAHASSEE, Fla. (AP) _ Regulators could decide within days whether Allstate insurance companies are allowed to raise home insurance rates between 27 and 43 percent on average.
The company went before officials from the Office of Insurance Regulation this week to explain why it wants to raise rates despite a new law meant to make it cheaper for insurance companies to get backup coverage.
A decision from state regulators is expected soon, although no exact deadline has been set.
Allstate executives say that while legislative changes helped make reinsurance less expensive, it didn't cut the company's costs enough to put it in a position to cover all the claims it might need to pay in a worst-case scenario.
Several other companies have also requested a rate increase.
If OIR officials reject the Allstate request, the company could appeal.
Helpful Links
Learn more about the United States Congress at
www.house.gov and www.senate.gov
Not sure which precinct to vote at?
Visit the Georgia Precinct Locator
Want to know what you need to do to register to vote in Georgia? Visit www.sos.state.ga.us/elections
Also visit the State of Georgia website
Find out more about elections in Georgia at the
Georgia Elections website
Know when to head to the Georgia polls by browsing
Georgia Voter Information
Know when to head to the Florida polls by visiting the
Florida Voter Information Page
Find out more about Florida Voting Systems
Want to talk to your elected officials? Visit Florida’s Contact Your Elected Officials Page
Get your Florida voter registration application at
election.dos.state.fl.us
Learn more about how Florida does elections at the Florida Division of Elections Web Site
Visit the State of Florida Web Site
CBS Political Headlines
-
The Ted Cruz conundrum
John Dickerson: How powerful can you be in the Senate if nobody likes you? -
As summer approaches, sequestration threatens holiday fun
Budget cuts will take a toll on Memorial Day, July 4th events, organizers say; national parks face limited hours and reduced staff -
Petraeus biographer regrets affair
In a TV interview, Paula Broadwell says she regrets the relationship with then-CIA director David Petraeus that caused his resignation -
Video: 5/24: I-5 bridge collapses north of Seattle; "On the Road": Three siblings survive Okla. tornado
A section of the Riverside Bridge, which carries traffic along Interstate-5 near Seattle, collapsed after a truck hit an overhead beam, plunging vehicles into the Skagit River below; and "On the Road," Steve Hartman reports on three siblings who survived the Okla. tornado that destroyed their home and elementary school. But they said that's the only thing left in the house that matters is their dog. actually, change Riverside Bridge in the dek for "I-5" -
Video: Obama urges honorable conduct on military grads
A U.S. Army missile unit at Fort Greely, Alaska is under investigation for allegations of sexual assault and fear of reprisals. On Friday, President Obama reminded graduating military cadets that they must uphold honorable conduct. Major Garrett reports. -
Pelosi ties bridge collapse to sequester
Though Washington bridge collapse was result of an overloaded truck, Democratic leader ties it to budget cuts -
U.S. Park Police to terminate sequester furloughs
The force, which patrols national parklands, offset sequester costs with saved funds -
Video: Obama honors victims of civil rights-era church bombing
President Obama signed a bill conferring the Congressional Gold Medal on four young black girls killed during a 1963 church bombing in Birmingham, Alabama, saying that the tragedy and heartbreak of the bombing forced America to reexamine race relations and eventually helped bring about a "more just and equal and fair America."
