Nationwide Mutual Fire Insurance Company has filed a rate revision for
their Homeowners program in Oregon. The changes include a revision to
the statewide base rate for the homeowners form only and will be
effective August 10, 2009 for new and renewal business. The overall
impact of this filing is a 8.1% increase or about $444,549 in annual
premium.
Their last general change was a 10.7% increase effective July 26, 2008.
Nationwide Group is ranked number 10 in Oregon, with a 2.7% market share.
Nationwide Mutual Fire Insurance Company has 0.9% of the share.
Nationwide Group has filed a rate increase for their Recreational
Vehicle program in Oregon. The effective dates are April 11, 2009 for
new and May 11, 2009 for renewal business.
The changes by company are summarized below:
Nationwide Insurance Company of America: 19.5%
Depositors Insurance Company: 19.9%
AMCO Insurance Company: 15.1%
Notable changes are:
Revised base rates
Revised territory factors
Revised symbol factors
Revised tier factors
Implement rate stability logic
Implement intra-agency discount
Implement theft recovery discount
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