98-thousand State Farm customers will receive refunds or credits after regulators called the insurer on the carpet for not discounting policies for people who hurricane proofed their homes. The news has other insurance companies checking to see if they owe their policyholders a discount.

The Office of Insurance Regulation ordered State Farm to shell out 120-million dollars to customers who storm proofed their homes, but never received a discount. Deputy Insurance Commissioner Belinda Miller says other insurance companies could owe their policyholders.

“To the extent that we find others who are not in compliance we will take action there. We expect all companies to comply with these rules.”

Industry expert Sam Miller says insurance companies are trying to play ball, but the rules aren’t clear. They say the formula used to lower rates caused some problems.

“It created some computer problems for a lot of companies and in fact the results of some of the discounts were weird. Insurers would have to pay you for the privilege to offer you insurance.”

State regulators say it’s not that complicated.

“It’s a table. You look at the home. You have an inspector do an inspection of the home, certify what mitigation features the home has and its really black and white, what discount is required.

State Farm saw it differently. Now they’re offering refunds. They’ll also pay an extra million to the Florida Insurance Regulatory Trust Fund.

The order comes after regulators shot down State Farm’s request to raise rates more than 47 percent. State Farm isn’t alone. Allstate and Farm Bureau were also denied increases. Now those companies will be checking to see if they owe customers a discount.

The Office of Insurance Regulation is conducting a study to see if any changes are needed to its discounting standards for policyholders who hurricane proof their homes.