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Two Allstate subsidiaries companies want to raise rates more than 20 percent. Castle Key Indemnity Company is asking the Office of Insurance Regulation to approve a 22 percent rate hike. Castle Key Insurance Company is seeking a 32 percent statewide increase. The two companies say they need to raise rates to make up for millions of dollars in lost surplus. Insurance Commissioner Kevin McCarty says even though the state hasn’t seen a hurricane in years, insurers are losing money to other disasters.

“We haven’t had a hurricane in six years, but we’ve had a lot of damages and losses due to sinkholes. The legislature has done a lot to address that. We will be carefully scrutinizing the Castle Key filing to make sure that it comports with Florida law,” said McCarty.

OIR will decide if, or by how much, the companies can raise rates sometime during the next few months.