One week after Michigan Gov. Jennifer Granholm called on auto insurance companies to freeze their rates, five insurers have said they will comply.
In a Feb. 3 order, Granholm asked each automobile insurance company doing business in Michigan to pledge to freeze automobile insurance rates in Michigan for a 12-month period effective immediately, but no later than March 1, 2009, while the Michigan Legislature works to enact automobile insurance reform.
As of Feb.10, according to the Michigan Office of Financial and Insurance Regulation, the following insurance companies had pledged to freeze rates for a 12-month period: American International South Insurance Co., Electric Insurance Co., IDS Property Casualty Insurance Co., Merchants Mutual Insurance Co. and Wolverine Mutual Insurance Co.
Was this article valuable?
Here are more articles you may enjoy.
What Analysts Are Saying About the 2026 P/C Insurance Market 
Nine-Month 2025 Results Show P/C Underwriting Gain Skyrocketed 
US Appeals Court Rejects Challenge to Trump’s Efforts to Ban DEI 
Florida’s Commercial Clearinghouse Bill Stirring Up Concerns for Brokers, Regulators 
