Friday, January 06, 2006

PCRB Requests 8.5% Rate Reduction

The Pennsylvania Compensation Rating Bureau requested an average 8.5% reduction in loss cost level. The reduction is attributed to a decreasing number of claims and a moderation of the rate of increasing severity of the claims that are filed. The Pittsburgh Business Times published an in depth article, which also mentions there are more insurers writing policies in Pennsylvania and more competition over rates.

No comments: