State Filings Statistics and Trends through June 2024

Perr&Knight has released the June 2024 edition of State Filings Pulse with the latest filing statistics by state.  Below is a summary of key filing statistics through June 30, 2024.  To obtain a free copy of the publication on a quarterly basis, please register at the following link: https://www.perrknight.com/insights/guides-white-papers/state-filings-pulse/

Time to Approval/Disposition by State

The tables below summarize the approval/disposition times by state for rate filings and excluding rate filings (all other filings) during the first six months of calendar year 2024.  Rate filings include filings with non-zero rate impact.  The latest edition of State Filings Pulse includes data from January 2019 through June 2024 and provides a longer-term perspective on the time to approval/disposition based on more than six months of data.  It also includes other state filing statistics.

Percentage of Rate Filings with Approved Rate Change Less than Proposed Rate Change Rate Filings

The tables below summarize the percentage of rate filings with approved rate change less than proposed rate change by state during the first six months of calendar year 2024.  This percentage provides the probability that an insurer will reduce the proposed rate change after submission. When this happens, the state most often requests it due to differing opinions on the needed rate change. Occasionally, an insurer may decide to reduce a proposed rate change after filing submission as more current information becomes available on the needed rate change.

Download Your Copy of State Filings Pulse

All the information above – plus many more state-specific statistics – is now available in the June 2024 edition of State Filings Pulse publication. Please use the link above to obtain your free copy of State Filings Pulse and contact Perr&Knight with any questions.