Effective April 1 for new business and June 1 for renewal business, RLI has received approval for a modest rate increase in most states, including Texas.
RLI will also introduce additional rating changes at this time, including:
- A 5% increase on excess uninsured and underinsured rates, including states rated on a per driver basis. For example, a household paying $150 per driver will now pay $158 per driver.
- An increase in the incident surcharge for drivers under 22 years old and over 80 years old from $100 per incident to $200 per incident. In addition, Question 14 on the new business application will be split into 14a and 14b in RLI’s portal but will remain as a combined question on the paper application.
- For new business, removal of the $100 surcharge for households with a driver who has been licensed less than one year, has a permit or has an international license (Question 13). A response greater than zero will still place the risk in the personal umbrella policy special tier and restrict coverage to $1 million.
- A surcharge increase for households with a youthful or inexperienced operator, as well as drivers over 80 years old, in New York, Pennsylvania, and Georgia.