The Louisiana Insurance Rating Commission approved a reduction in auto rates for two members of the United Services Auto Association group of companies.
According to Associated Press reports, the two companies, United Services Auto Association and USAA Casualty Insurance Company—which insurer military personnel and their families—will reduce auto premiums in the state by an average of 2.2 percent.
The reduction is expected to amount to a $1.6 decrease in premiums, although some 79 percent of policyholders will see no change in their rates, according to a state actuary. Some may see their rates decrease by as much as 38 percent.
The LIRC approved a 2 percent increase in auto rates for American National Property and Casualty Company (ANPAC), which had sought a 9.4 percent rate hike.
Also approved was a rate hike of 9.6 percent for an ANPAC affiliate, American National General Insurance Company. The rate increase is expected to affect about 2,000 policyholders.
Was this article valuable?
Here are more articles you may enjoy.
Europe’s Insurers Cut Coverage of Weather Losses, Report Says 
KCC Says Isaias Insured Losses to Be $3 Billion; AM Best Calls Storm an Earnings Event 
Eastern States’ Grocers Shut Online Systems After Cyberattack 
Florida Supreme Court Approves Board Certification in Insurance Law 
