Personal Lines

Less than a week after he denied a request from State Farm to implement a regional storm deductible plan, Louisiana Insurance Commissioner Jim Donelon shot down an application from the insurer to raise homeowners insurance rates 16.6 percent.

Last weeks order by New Jerseys governor standardizing the rebuilding codes along the states coast in the wake of Superstorm Sandy will help speed the process of rebuilding, but agents say property owners are just beginning to learn the implications it may have on their reconstruction decisions.

A new study by the Consumer Federation of America lauds State Farm as a company that is successful in the highly competitive personal-auto market without the need to use highly discriminatory factors in setting rates.

While a continuing weak recovery is expected for G-20 economies, property and casualty insurers are expected to withstand the challenging environment well since their product offerings, particularly in personal lines, are mandatory for buyers, says Moodys Investors Service.

Auto claims are being paid faster, while repair shops slightly lag behind in claimant satisfaction.

Louisiana Insurance Commissioner Jim Donelon says State Farm didn't meet the criteria to have a regional deductible plan approved.