We continue to see the industry react to this very challenging marketplace
with rate revisions and/or underwriting changes. As noted below is
information on a rate revision by a major organization, Nationwide. Nationwide Insurance Company of America has filed a rate revision for their
Class M Auto program in Oregon. The changes will be effective September 15,
2009 for new and October 15, 2009 for renewal business. The overall
impact of this filing is a 4.6% increase or about $1,651,387 in annual
premium. Nationwide Group is ranked number 10 with a 2.9% market share and 64.5%
loss ratio. Nationwide Insurance Company of America has 1.7% of the share. Notable changes include:
Revised Base Rates
Rebased Model Year Factors from 2009 to 2010
Revised New Vehicle discount for CCD and Collision coverages
Revised increased limit additive for Medical coverage
Introduced Special Physical Damage coverage
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