Universal Insurance Holdings, Inc., has announced that its Universal Property and Casualty Insurance Company (UPCIC) subsidiary has now written its first Georgia homeowners’ insurance policies for an official start within that state. Chief operating officer of the vertically integrated insurance holding company, Sean Downes, said that the entrance of UPCIC into the homeowners’ marketplace in Georgia “marks the fifth state where UPCIC conducts business and continues our expansion beyond Florida.” He added that the insurer is anticipates a strong expansion of its network of agents within that state, as well…
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Georgia insurance companies want to increase premiums
Though insurers in Georgia had already increased premiums for homeowners insurance by 9 to 23 percent last year, many are already making requests to obtain permission for another increase. The largest homeowner policy writer in Georgia, State Farm, is asking for an increase of 7 percent next year. According to state officials, this would be in addition to the 20 percent increase that it already put into place at the beginning of 2010. Similarly, the homeowner insurer that is the third largest in the state, Travelers Group, has filed its…
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