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THE HOME INSURANCE COMPANY REACHES AGREEMENT WITH FLORIDA DEPARTMENT OF INSURANCE

 TALLAHASSEE, Fla., July 28 /PRNewswire/ -- The Home Insurance Company said today it has reached an agreement with the Florida Department of Insurance regarding that state's moratorium on homeowners insurance cancellations. Under the agreement, the company will continue its withdrawal from the state in mid-November, while affording temporary reinstatement of policies which were not renewed.
 The company also said it would offer to pay the difference between its rate and the rate offered by the Joint Underwriting Association for any Home policyholder who has obtained insurance with the JUA.
 "It's important to emphasize that The Home was not fined and will not be fined," said David Yon, a Tallahassee attorney representing The Home Insurance Company.
 "This company was merely completing, not initiating, its planned withdrawal from the personal insurance lines it began nationally several years ago," he added.
 -0- 7/28/93
 /CONTACT: Bruce S. Rubin of Bruce Rubin Associates, 305-448-7450, for The Home Insurance Company/


CO: The Home Insurance Company; Florida Department of Insurance ST: Florida, New York IN: INS SU:

AW-RC -- FL012 -- 6882 07/28/93 15:59 EDT
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Publication:PR Newswire
Date:Jul 28, 1993
Words:180
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