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DELAWARE INSURANCE COMMISSIONER ANNOUNCES RATE REDUCTION IN FIRE POLICIES

 DELAWARE INSURANCE COMMISSIONER ANNOUNCES
 RATE REDUCTION IN FIRE POLICIES
 DOVER, Del., Dec. 4 /PRNewswire/ -- Delaware Insurance Commissioner David N. Levinson today announced a 5.9 percent rate reduction in dwelling fire policies under the Delaware FAIR plan.
 FAIR is an acronym for Fair Access to Insurance Requirements and was established in Delaware by property insurance companies in 1968. The FAIR program provides availability of property insurance for those having difficulty obtaining property coverages through traditional channels.
 Levinson commented, "It is rare to have an opportunity to announce a lower insurance premium of any kind. Lower premiums directly reflect a decrease in property losses, which is good news for policyholders."
 Levinson went on to say that the Delaware Insurance Department closely monitors company losses and operating expenses to assure that Delaware insureds pay the lowest possible premiums.
 The Delaware FAIR plan insures property and contents of buildings. There are approximately 1,200 FAIR plan policyholders in Delaware.
 Levinson stated, "It is clear that new building techniques, utilization of smoke alarms and the professionalism of Delaware's exemplary fire companies are contributing factors to reduced property losses in our state."
 The reduced rates became effective Dec. 1, 1991.
 -0- 12/4/91
 /CONTACT: David N. Levinson, Delaware Insurance commissioner, 302-739-4251/ CO: Department of Insurance ST: Delaware IN: INS SU:


KA-CC -- PH017 -- 9259 12/04/91 13:51 EST
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Publication:PR Newswire
Date:Dec 4, 1991
Words:225
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