FOR IMMEDIATE RELEASE

June 13, 2019

More Good News for Auto Policyholders in Louisiana

Insurance Commissioner Jim Donelon announces his approval of another rate decrease for private passenger auto policies in Louisiana. Progressive Security Insurance Company submitted a rate filing for a decrease of -2.2% on new and renewal business. The decreases will take effect in late summer.

“This rate decrease by the second-largest auto insurer in the state is a sign of continued benefits brought about by competition and hopefully more good news to come,” said Commissioner Donelon. “In my opinion, Progressive’s action is an appropriate response to State Farm’s recent efforts to reclaim auto policies they have lost and a sign of competition working for consumers.”

Over the last year, Commissioner Donelon granted State Farm approval for three rate decreases for coverage on private passenger vehicles. The total impact of the rate changes taken together is a decrease of -7.7 percent. State Farm is the largest auto insurer in the state with 1,000,000 policies but has lost about 100,000 policies over the last 2 years.

More than 175,000 Progressive policyholders in Louisiana will see a decrease of -2.2 percent which will take effect in September for renewed policies.

About the Louisiana Department of Insurance: The Louisiana Department of Insurance works to improve competition in the state’s insurance market while assisting individuals and businesses with the information and resources they need to be informed consumers of insurance. As a regulator, the LDI enforces the laws that provide a fair and stable marketplace and makes certain that insurers comply with the laws in place to protect policyholders. You can contact the LDI by calling 1-800-259-5300 or visiting www.ldi.la.gov.