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DELAWARE INSURANCE COMMISSIONER WILLIAMS NEGOTIATES REDUCTION IN COLONIAL AUTOMOBILE INSURANCE PREMIUMS

 DOVER, Del., Nov. 17 /PRNewswire/ -- Delaware Insurance Commissioner Donna Lee H. Williams announced today that she has negotiated with Colonial Insurance Company of California (Colonial), a member of the Nationwide Insurance Group, to reduce its total Delaware premiums by 9.1 percent.
 Colonial, writing private passenger automobile insurance in Delaware, insures approximately 12,339 Delaware cars. This represents a statewide total premium reduction of $1,300,588.02, or an average annual premium reduction of $105.40 per insured car. Colonial must implement the new rates effective for all renewal and new business written on and after Jan. 1, 1994, or Jan. 15, 1994.
 According to Williams, "After examining Colonial's financial experience over the past three years, our department discovered that Delawareans, with private passenger automobile insurance with Colonial, were paying an excess of approximately $90 per car. Our negotiating efforts will reduce total Delaware premiums by over 9 percent, which should come as a great relief to the thousands of Delawareans with this type of insurance.
 "Assuming that an insured has two cars on his policy and each car has full coverage, the insured annual premium would be on average $210.80 less," continued Williams.
 Williams noted these are average statewide numbers and the reduction on premiums may be more or less depending on where in the state the policyholder lives, what kind of cars are insured and the driving records of the policyholder and members of the policyholder's household.
 -0- 11/17/93
 /CONTACT: Michael Battaglia of the Delaware Department of Insurance, 302-739-4251/


CO: Department of Insurance ST: Delaware IN: INS SU:

JM-LJ -- PH018 -- 5461 11/17/93 11:57 EST
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Publication:PR Newswire
Date:Nov 17, 1993
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