GEICO has filed two additional auto insurance rate decreases in Florida that will lower premiums for more than 1.3 million customers in the state, the insurer said Aug. 6.
The filings give GEICO three Florida rate reductions in the past year. The company said it has cut annual premiums for Florida drivers by more than $500 million over the past two years, including an April reduction that covered more than 700,000 customers. GEICO did not disclose the size of either new decrease or when the reduced rates take effect.
Carriers are handing back premium on the strength of loss ratios
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