The Louisiana Insurance Rating Commission approved automobile insurance rate increases for State Farm Group that were less than those originally requested by the insurer.
According to A.M. Best regulators approved a 14 percent increase for State Farm Mutual Automobile Insurance Co., which provides coverage for about 91 percent of the company’s 1.05 million auto insurance customers. The remainder of State Farm’s auto customers mostly high-risk drivers, are covered by State Farm Fire & Casualty Co., which received approval for a 19 percent rate hike.
State Farm originally sought a 16 percent rate hike for State Farm Mutual and a 20.9 percent increase in rates for State Farm Fire & Casualty customers.
Topics Trends Auto Louisiana Pricing Trends State Farm
Was this article valuable?
Here are more articles you may enjoy.
Zurich Insurance’s Beazley Bid Sets the Stage for More Insurance Deals 
Florida Senate President Says No Major Insurance Changes This Year 
Winter Storm Fern to Cause Up to $6.7B in Insured Losses 
Uber Jury Awards $8.5 Million Damages in Sexual Assault Case 
