Insurance Commissioner Kevin McCarty has requested that the Federal Emergency Management Agency (FEMA) provide data relating to how the National Flood Insurance Program (NFIP) sets rates. McCarty has commented that even without seeing the data, it appears that the NFIP’s rates would not satisfy the Office of Insurance Regulation’s standard that rates not be unfairly […]
The Office of Insurance Regulation (OIR) recently commented on the rate filing it received from the National Council on Compensation Insurance (NCCI) proposing a statewide average premium decrease of 2.2%. The OIR pointed out that the filing includes a statewide average rate decrease of 1.9% and a reduction of the fixed expense cost applicable to […]
