State Farm Cuts Ohio Auto Rates; Others May Follow

NU Online News Service, Feb. 23, 3:20 p.m.EST?State Farm Insurance Companies' move to cut autoinsurance premium rates in Ohio will likely be followed by otherauto insurers following suit to remain competitive in the state, aninsurance trade group predicted.[@@]

The forecast by the Ohio Insurance Institute, a Columbus,Ohio-based industry association representing property-casualtyinsurers and organizations in the state, was made after State Farmannounced Friday that it will reduce its auto premium rates in Ohioby an average of 4.1 percent beginning March 15.

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