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4troglodyte t1_j27dzj2 wrote

Each State has an Insurance Commissioner and each Insurance Company Admitted to their State MUST make rate filings that are either approved or denied by the Insurance Commissioner. For example, in California the Insurance Commissioner is not approving rate increases filed by Insurance Carriers seeing adjustment for inflation impacts on auto repair parts/labor, replacement vehicle costs for totaled vehicles, supply chain delays in repair that increase rental car expenses, and other factors. Insurance company’s are not altruistic and if a profit isn’t possible in a market, let’s say Florida or California, they will exit that marketplace. To say there is “some risk” for Progressive and others being hamstrung by Departments of Insurance is a gross understatement.

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