private passenger auto insurance News

Rate Increases Approved for Texas Auto Insurer for Residual Market

Proposed rate increases for both private passenger and commercial auto insurance rates have been approved for the Texas Automobile Insurance Plan Association (TAIPA). The Texas Department of Insurance granted TAIPA’s filing for a 4.9% increase private passenger rates and a …

North Carolina Personal Auto Rates to Increase by 1.6%

The North Carolina Rate Bureau has reached a settlement with the North Carolina Department of Insurance to raise personal auto insurance rates by 1.6 percent, according to a statement by NCDOI. The NCRB, which is not a part of NCDOI …

North Carolina Auto Insurers Request 7.6% Rate Increase

The annual auto insurance filing from the North Carolina Rate Bureau to the North Carolina Department of Insurance calls for an overall statewide average increase of 7.6 percent, according to a statement from Insurance Commissioner Mike Causey. The NCRB represents …

A.M. Best Sees Private Passenger Auto Turnaround, Stable Outlook for 2019

Ratings analysts at A.M. Best said improved underwriting performance in the private passenger auto line of business, lower—albeit still elevated— catastrophe experience and favorable investment returns have convinced them to maintaining a stable market segment outlook for the personal lines …

2% Rate Hike Approved for North Carolina Auto Insurers

North Carolina’s insurance regulator says he’s reached a deal with auto insurers for a premium increase of just over 2 percent instead of the nearly 14 percent average increase companies sought in February. The state Insurance Department said Thursday the …

North Carolina Regulator Calls 13.8% Auto Rate Hike Unwarranted

The North Carolina Rate Bureau’s request for an auto rate hike of 13.8 percent is not justified based on the data submitted, according to a statement from the North Carolina Department of Insurance. The decision, made by Commissioner Mike Causey …

North Carolina Auto Rates Going Up? Rate Bureau Files for 13.8% Rate Increase

The North Carolina Rate Bureau (NCRB) is requesting an average increase of 13.8 percent on private passenger automobile insurance rates in its latest filing with the North Carolina Department of Insurance (NCDOI). NCRB files rates on behalf of all insurance …

P/C Insurers Face Tough Sledding in 2016, Warns S&P

This year could be a tough one for U.S. property/casualty insurers as catastrophe losses, private passenger insurance woes and declining bond yields erode underwriting results and profitability, according to a report by S&P Global Market Intelligence. The firm’s 2016 U.S. …

Main Street America Group Expands Private Passenger Auto Coverage to Conn., N.H.

The Main Street America Group has expanded its private passenger auto insurance program to Connecticut and New Hampshire. Highlights of the Main Street Protection Auto program, which was first launched in South Carolina and Virginia last fall, include a lineup …

Outlook for Michigan Farm Bureau Group Revised to Positive

A.M. Best has revised the outlook to positive from stable and affirmed the financial strength rating of B++ (Good) and the issuer credit ratings of “bbb+” of Farm Bureau Mutual Insurance Co. of Michigan and Farm Bureau General Insurance Co. …