During a period when insurers in West Virginia limited the amount of homeowner and auto policies they were writing – or stopped writing altogether – Insurance Commissioner Jane L. Cline worked with the governor and the state legislature to create reform.
That was early 2005 and Cline said the action resulted in rate reductions, new product filings and insurance and civil justice reform for consumers.
Cline said the state also faced a medical liability crisis, and again in tandem with the governor and lawmakers, established a Physician’s Mutual Insurance Co. “It’s a West Virginia-based company that now insures over half of our physicians,” she said.
A 10 percent rate reduction became effective Jan. 1, according to Cline, on the heels of a 5 percent reduction in 2005.
Cline also assisted with revamping the state’s workers’ compensation system, which at its low point was responsible for discouraging new business and economic development. She said the once monopolistic fund is now privatized. Now rated under the NCCI class system, Cline said she hopes to open the workers’ comp market to other commercial carriers by July 2008.
Cline said her office maintains an open-door policy with West Virginia independent insurance agents and solicits their input prior to legislative sessions.
Topics Virginia West Virginia
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