The Pennsylvania Capitol in Harrisburg. Photo by Amanda Berg / For Spotlight PA.
HARRISBURG, Pa. (EYT) — The Pennsylvania Insurance Department announced Thursday it has saved residents $227.9 million by blocking proposed premium increases for property and casualty insurance products slated for 2025.
According to Insurance Commissioner Michael Humphreys, the department reviews thousands of complex filings annually to ensure Pennsylvanians receive quality insurance at fair prices. Humphreys stated that the rate review process involves analyzing thousands of pages of data, including variables ranging from education levels to past claims history. According to the commissioner, this constant work is necessary to shield consumers from unnecessary costs…