SOURCE: Plymouth Rock

May 03, 2006 13:55 ET

Plymouth Rock Assurance Receives Rate Change Approval

Personalized Rates to Result for Individual Drivers

BOSTON, MA -- (MARKET WIRE) -- May 3, 2006 -- In a move designed to promote cost-savings for auto insurance consumers, Plymouth Rock Assurance Corporation announced today that Connecticut state regulatory officials have approved its new auto product, which will be implemented in mid-summer.

Plymouth Rock's innovative new rate-setting model incorporates the use of an advanced, sophisticated underwriting model that will provide competitive rates for a broad customer base. The program is expected to result in lower rates for many Plymouth Rock customers, as well as a more competitive rate structure overall. The move is also expected to assure Connecticut drivers that insurers and regulators are working together to improve standards for rate-setting precision and fairness.

"We're excited about our ability to meet the unique needs of Connecticut drivers with this innovative, new auto insurance product," noted Plymouth Rock's COO, Thom Cranley. "The winning combination of our new rating system, our agency technology, and the ongoing expertise of our independent, local agents demonstrates Plymouth Rock's multi-decade commitment to True Service(SM) in Connecticut, both now, and in the years to come."

Boston-based Plymouth Rock Assurance Corporation (www.plymouthrock.com) is the flagship carrier of The Plymouth Rock Group of Companies, which together write and manage more than $1 billion in auto and homeowners insurance across the Northeast. Plymouth Rock Assurance Corporation has earned a rating of "A-/Excellent" from A.M. Best, the insurance industry's premier independent rating service. Plymouth Rock's industry-leading service innovations include its Crashbusters(SM) vans, the nation's first complete mobile automobile claim service; its Door to Door Valet Claim Service(SM) that offers vehicle pick-up, delivery and guaranteed auto repairs; and its True Service(SM) Pledge, a first-of-its-kind written commitment to service excellence.

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