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 […]
Illinois Governor Signs Auto Insurance Rate Review Law Over Insurance Industry Objections
Three trade associations warn of higher premiums and fewer coverage options as new law takes effect July 1, 2027. Illinois Gov. JB Pritzker signed legislation Aug. 4 giving the Illinois Department of Insurance authority to challenge automobile insurance rate filings it determines are excessive, inadequate or unfairly discriminatory, drawing a joint statement of opposition from […]
State Farm Begins Issuing $5 Billion Policyholder Dividend
State Farm Mutual Automobile Insurance Company has begun issuing payments on its one-time $5 billion cash dividend to qualifying auto customers, the largest policyholder distribution in the insurer’s history. Millions of customers have already received individual payments. The dividend covers more than 49 million insured vehicles and is being distributed in waves. Each payment is […]
UK Motor Insurers Forecast to Remain Loss-Making Through 2027 as Repair Costs Squeeze Margins
The UK motor insurance market is projected to post a net combined ratio of 108% in 2026, a sharp deterioration from the 102% EY estimates for 2025, with losses continuing into 2027 at a forecast 103%, according to analysis the firm released July 23. Repair, labor and vehicle costs are the primary drag on margins […]
Auto Physical Damage Premiums Decline in Texas and Florida as Overall Total Rises 1.3%
Florida’s 5.3% drop was the largest among the 50 states, while No. 1 California gained 5.4% to $24.21 billion. Auto physical damage direct premiums written fell last year in two of the five largest states for the line, even as premiums across all reporting jurisdictions rose 1.3% to $177.4 billion, according to a Best’s Rankings […]
Private Passenger Auto Drives Louisiana’s First Broad Rate Relief, Triple-I Says
Trade group points to litigation and glass-claim fraud as the cost drivers still to be addressed. A new state law folds ADAS calibration disclosures and an assignment-of-benefits ban into Louisiana’s unfair trade practices statute. Private passenger auto insurance produced the sharpest turnaround in a Louisiana property/casualty market that posted its first broad rate relief of […]
Georgia Approves USAA Auto Insurance Rate Reduction Totaling $33 Million in Savings
Georgia Insurance and Safety Fire Commissioner John F. King announced June 25 that the USAA group of companies will cut auto insurance rates in the state, an overall group reduction of about 2.6% that the office estimated will save more than 200,000 Georgia policyholders roughly $33.2 million. The reduction combines decreases across three USAA underwriting […]
USAA to Return Nearly $1 Billion to Florida Members in Dividends and Auto Insurance Rate Cuts
USAA said June 8 it will distribute a $500 million dividend to about 830,000 Florida auto insurance policyholders, the largest single piece of nearly $1 billion in rate reductions and direct member returns the insurer expects to deliver in the state between December 2025 and July 2026. The San Antonio, Texas-based insurer, which serves military […]
Auto Insurance Shopping Cools in First Quarter as Rate Decreases Spread
Shopping activity turned negative in March even as 47.3% of policies were shopped within the previous year — the highest rate since LexisNexis began tracking in 2020. U.S. auto insurance shopping grew 3.2% year over year in the first quarter of 2026 and new policy growth slowed to 3.6%, according to data released May 12 […]
Southern Farm Bureau Cuts Louisiana Auto Rates 10.6%
Six insurers finalize filings through April. Louisiana Insurance Commissioner Tim Temple has finalized six private passenger auto insurance rate filings through the end of April, led by a 10.6% decrease from Southern Farm Bureau Casualty Insurance Company that will save 39,332 policyholders approximately $16 million in premiums. The Southern Farm Bureau cut, applied to the […]
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