Main Street America Group Unveils Auto Product

At recent kickoff meetings in Maryland and Tennessee, The Main Street America Group introduced its new Personal Auto MVP (multivariate rating program) product to its independent insurance agents throughout these two states and now has launched MVP in nine states. A version of Personal Auto MVP has also been introduced in Massachusetts. Starting Tuesday, the super regional carrier's NGM Insurance Company will offer MVP to Bay State consumers via its independent agents in the new "managed competition" environment. With the launch of Massachusetts MVP, NGM is implementing an average premium decrease of 7.6 percent. Approximately 70 percent of current NGM auto policyholders in the commonwealth will receive rate decreases on their policy renewals. Personal Auto MVP is Main Street America's new rating program designed to provide greater pricing flexibility for the carrier's new personal auto policies. It features "predictive modeling" or "multivariate" rating, which considers a variety of risk characteristics simultaneously, as well as the interactions and correlations among these characteristics, to price a policy. In addition to Maryland, Tennessee and Massachusetts, the new rating program has also been launched in Connecticut, Georgia, New Hampshire, Pennsylvania, South Carolina and Vermont.