The current NY rate reductions are basically state mandated reductions. Forget about Hartford. By the time they get around to lowering the rates, the rates will be back on the rise again and Hartford will be again at a disadvantage. Hartford is ALWAYS slow to react. Look what they did in New Jersey. They PAID another company to take their auto insurance book of business because they were so incompetent. They did this just before all the reforms were put into place making auto insurance in New Jersey very profitable. DUMB MOVE! They are goingto do the same thing in New York. You just wait and see. Rates are going to rise very shortly in New York. Wait and see.
Rather than filing a rate decrease on existing business, Hartford rolled out a new auto program months ago with much better rates for NEW customers under another of their company names.
The current NY rate reductions are basically state mandated reductions. Forget about Hartford. By the time they get around to lowering the rates, the rates will be back on the rise again and Hartford will be again at a disadvantage. Hartford is ALWAYS slow to react. Look what they did in New Jersey. They PAID another company to take their auto insurance book of business because they were so incompetent. They did this just before all the reforms were put into place making auto insurance in New Jersey very profitable. DUMB MOVE! They are goingto do the same thing in New York. You just wait and see. Rates are going to rise very shortly in New York. Wait and see.
Still don’t see Hartford or Onebeacon there. You would think that they would all jump on the bandwagon. Makes a good selling point.
They’re probably stuck on a burecrat’s desk at the DOI. I wonder how many companies’ filing for decreases are sitting, waiting for approval?
Rather than filing a rate decrease on existing business, Hartford rolled out a new auto program months ago with much better rates for NEW customers under another of their company names.