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State Farm is awaiting a decision on its request to raise property insurance rates by almost 50 percent. State Farm is the state�s largest public insurer. The company claims it will lose money if a hurricane struck Florida and it needs to increase rates to prepare for a storm. State Farm�s request came while the governor was on an overseas trade mission. Governor Charlie Crist is asking for the request to be denied.

�I was shocked to see them request that high a rate increase. You know overall the average has been a 16 percent decrease in property insurance in Florida, in the last year and a half. And I think its appalling State Farm would ask that rate increase. I�ve sent a letter to commissioner McCarty to that affect and I hope that he will reject it,� said Crist.

A public hearing regarding State Farm�s request has been scheduled for August 12th in Tallahassee.