05:54 PM EDT, 05/22/2024 (MT Newswires) -- Heritage Insurance Holdings ( HRTG ) late Wednesday said Florida Office of Insurance Regulation approved a 3.3% decrease in the rates paid by its homeowner policy holders in the state beginning Aug. 20.

The insurer said the rate reduction reflects recent changes approved by Florida legislators that eliminated certain attorney fees and other barriers to claimholders.

The company said it would be able to maintain its existing margins within the new rate structure.

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