A request by the Westfield Insurance Company for a 7.7 percent decrease in private passenger automobile rates, and a 6 percent decrease in homeowners rates, has been approved by the West Virginia Insurance Commission. The new rates go into effect July 1.
The approval comes after Westfield submitted a rate-filing request last month to Governor Joe Manchin and the West Virginia Insurance Commission.
Westfield’s request was approved a week after the Insurance Commission approved a similar request by State Farm Insurance for a 10 percent decrease for private auto insurance policies. State Farm’s rates go into effect July 8.
Westfield is one of Ohio’s largest non-public companies. It has a network of more than 1,200 independent insurance agencies and writes policies in 28 states.
The rate changes are being requested due to the recent passage of insurance and civil justice reforms by the West Virginia Legislature.
Topics Trends Auto Pricing Trends Homeowners Virginia
Was this article valuable?
Here are more articles you may enjoy.
Allianz’s PIMCO, L&G Sued in Scrap Over €1.2 Billion Brussels Tower 
Florida Governor Signs Bill Dropping Building Permits for Work Valued at $7,500 or Less 
Safepoint Exec Pay, Slide’s Stock Sell-Offs Getting Attention in Florida 
Maryland Announces $2.5 Billion Settlement Over Baltimore Bridge Collapse 
