BULLETIN
October 29, 2019
Minnesota Personal Auto Rate Capping, Eff. 11-1-2019
We have recently updated rating methodology for our Minnesota Personal Auto program. The addition of new and/or modified rating elements allows for more granular pricing to generate premium charges that better reflect the attributes of each vehicle and driver. Premium on most policies will increase or decrease minimally; however, large premium swings on some policies are possible. We have added rate capping to help control the impact for policyholders.
If capping applies to a policy, you will see the following on the Summary Page in AgentsOnline when processing an endorsement:
There is no action needed on your part. The system will manage the rate cap throughout the policy term.
Western National is committed to providing agents and policyholders with the highest quality personal lines products and services. If you have questions, please contact your Personal Lines Underwriting Team or your Regional Agency Manager. Thank you for your partnership!
