MSF Announces 3% Rate Reduction

Montana State Fund announced that its board of directors recently approved a 3% average rate decrease. If approved by the insurance commissioner, the rates will apply to policies incepting on or after July 1. MSF said that with the pending reduction, average rates will be 54.1% lower than they were in 2006, the last year the state-chartered carrier increased rates. If the latest cut is approved, rates will be the lowest in the 32-year history of the carrier. Laurence Hubbard, president and CEO of Montana State Fund, said in a statement that the rate cut reflects ongoing efforts of state...