Rate increases follow storm damage - WALB.com, Albany News, Weather, Sports

Rate increases follow storm damage

October 6, 2004

Albany-- It was bound to happen. Brace for your homeowner's insurance premium to rise because of all those hurricanes.

Hurricanes caused more than $200 million in damage in Georgia. "We don't control the re-insurance rates," said State Insurance Commissioner John Oxendine. "And they are probably going to charge insurance companies a little bit more money because of these hurricanes. So it will have a trickle down effect. "

John Oxendine says he will make sure that insurance companies don't try to recoup hurricane losses in Florida, by charging higher rates in Georgia.


posted at 3:45PM by dave.miller@walb.com