State Farm Subsidiaries Request Rate Hike in Nev.

The Nevada Department of Insurance announced two State Farm subsidiaries, State Farm Mutual Automobile Insurance Company and State Farm Fire & Casualty Company, recently requested proposed rate hikes of 3.7 percent and 4.1 percent, respectively. Both requests are for private passenger automobile insurance.

The filed rate requests, if granted, would go into effect on July 15 for both new and renewal policies for both companies.

Both companies’ last filed rate request was for a decrease of 0.4 percent for State Farm Mutual Automobile Insurance Company, and a decrease of 2.4 percent for State Farm Fire & Casualty Company, both of which became effective in January of 1999 for new policies, and February of 2000 for renewals.