The Pennsylvania Insurance Department (PID) announced February 15 that the Department blocked $64.3 million of personal auto premium increases from being implemented in Pennsylvania through its rate review processes in 2023.
According to the department, it has received a large volume of requests for rate increases in recent years, which the Department attributes largely to various inflationary factors, including increasing prices of vehicles and parts. In general, insurers are experiencing far higher losses than they were a few years ago and generally seek to reflect potential losses in proposed rates. As a standard practice, PID carefully reviews each request and
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