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Assurant Cuts Florida Insurance Rates 10% in Deal With Regulator

Oct. 8 (Bloomberg) -- Assurant Inc., under pressure from Florida regulators, agreed to cut rates 10 percent in the state for home insurance that borrowers must buy when they miss payments on their initial policies.

The new rates are expected to be effective in the first quarter of next year, the New York-based insurer said today in a statement distributed by Business Wire.

To contact the reporter on this story: Zachary Tracer in New York at ztracer1@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

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