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December 4, 2009

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Rate increase requested

Tuesday, Oct. 29, 2002 | 11:19 a.m.

CARSON CITY -- Allstate Insurance Co. and its affiliate have asked state Insurance Commissioner Alice Molasky Arman for permission to raise homeowner rates in Nevada an average 9.7 percent.

Under the filing, Allstate would raise premiums for homeowners by 17.9 percent and for condominium owners by 3 percent. Allstate writes 73,226 policies in Nevada and collected $34.6 million in premiums in 2001. The increase would generate an estimated $3.3 million.

The rate request by affiliate Allstate Indemnity Co. calls for a 12.5 percent increase in premiums for homeowners. This proposed increase would generate $251,909 from its 5,533 policyholders.

Janice Moskowitz, lead actuary for the insurance division, said last week she has requested more information from the companies to back up their request. Both want to start the new rates on Nov. 25. Their last rate increase was 12 percent in September 2001.

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