Nevada Insurance Commissioner Alice A. Molasky-Arman has approved a rate change for private passenger automobile insurance filed by Liberty Mutual Group.
The statewide average change of -0.3 percent for Liberty Mutual Fire Insurance Company and +3.3 percent for Liberty Insurance Corporation will be effective Dec. 16, 2002 for new business and Jan. 20, 2003 for renewal business.
Base rates will change overall and by territory. Territorial changes were capped at 5 percent to limit disruption. The company is also changing several rating rules that will impact certain policyholders. No policyholder will see more than a 20 percent increase as a result of the filed changes.
Liberty Mutual Fire Insurance Company insures 24,811 vehicles and Liberty Insurance Corporation insures 1,476 vehicles in Nevada. The last change was +0.0 percent effective June 10, 2002 for new business and Sept. 8, 2002 for renewal business.
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