Florida Treasurer and Insurance Commissioner Tom Gallagher rejected in late June a request by State Farm to raise homeowners insurance rates by 22%. State Farm, the largest writer of homeowners policies in Florida, also was denied a 132% rate hike affecting owners of condominiums and apartment buildings."State Farm proposed rates that are unwarranted and beyond reasonable," Gallagher said.

State Farm received a statewide average increase of 6.4 percent in 2001. The Department of Insurance approved another 14.3 percent average increase for the company in January, based on a recent trend of losses.

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