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Rate hikes approved by Pennsylvania Insurance Dept
Pennsylvania Insurance Commissioner Michael Browne announced rate increases for Travelers Indemnity Insurance Company and Erie Insurance Exchange due to rising liability costs under no fault law. Travelers adds 6.5 million dollars effective December 1 affecting 83,030 vehicles. Erie adds 11.6 million dollars effective January 1 affecting 354,000 vehicles. Browne urged no fault reforms including a verbal threshold to curb costs, citing potential savings of up to 172 million dollars annually.
MENTIONED IN THIS ARTICLE
Harrisburg
Pennsylvania
Michael Browne
General Assembly
Browne
Erie Insurance Exchange
Erie Insurance
Thornburgh
New York
Florida