VA | The Virginia State Corporation Commission Bureau of Insurance has issued Administrative Order No. 12185.
By submission received from the Automobile Insurance Plans Service Office on July 13, 2023,
the Virginia Automobile Insurance Plan, on behalf of its members, requested approval of the
following revisions to the commercial auto manual:
An overall rate level change of +8.9%, distributed as follows:
Trucks, Tractors, Trailers & Misc. Related Lines – 1.5%
Garages +1.5%
Private Passenger Types & Misc. Related Lines +7.4%
Taxi, Limo & Van Pool +17.8%
Buses +9.2%
Zone Rated Risk +18.7%
Employer Non-owned +5.9%
Uninsured Motorist +18.4%
Liability Subtotal +10.0
Comprehensive – 1.0%
Collision – 8.1%
Grand Total +8.9%
Now, the Commissioner of Insurance, having considered the recommendation of the staff of the Bureau of Insurance, that the proposed filing is proper and not in conflict or inconsistent with the laws of Virginia, finds and orders that:
(1) the proposed amendments are approved in Virginia for use by the members to the Virginia Automobile Insurance Plan, for new policies on and after August 1, 2024 and renewal policies on and after September 1, 2024; and
(2) an attested copy of this order be sent to the Automobile Insurance Plans Service Office, 302 Central Avenue, Johnston, Rhode Island 02919-5095; to Sandy Crayton, Manager, Virginia Automobile Insurance Plan, P.O. Box 6530, Providence, Rhode Island, 02940-6530; and to the Deputy Commissioner of Insurance of the Property and Casualty Division.