The Liberty Mutual Fire Insurance Co. received approval for a 6.9 percent rate increase, Liberty Insurance Corp. received approval for a 7 percent rate increase and First Liberty Insurance Corp. received approval for a 7.6 percent rate increase for private passenger
automobile insurance, the Nevada Department of Insurance reported. The companies originally requested rate increases of 8 percent, 7.7 percent and 8.6 percent respectively.
The rate changes vary by territory and coverage. By coverage, liability rates will increase the most, ranging from 5 percent to more than 17 percent depending on territory and insurance underwriting company. Policyholders in Elko and parts of Clark County, Nev., will see the largest increases.
The rate changes became effective for all policies produced and effective on or after Dec. 15, 2008.
On a combined basis, Liberty Mutual Insurance Companies Group is the 10th largest writer of private passenger automobile insurance in Nevada, based on premiums written, with 2.9 percent market share.
Source: DOI
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