Mt. Washington Assurance receives rate change approval

Mt. Washington Assurance Corp. has received approval from the New Hampshire Insurance Department to change the way it sets its auto insurance rates.

In a statement released by the Concord-based insurer, its new methodology includes “advanced underwriting techniques to more precisely predict premium prices” for its customers.

“This new underwriting model more closely aligns itself with a wider class of risks, which should result in a savings in premiums for many people,” said Janice Dottin, public relations director for Plymouth Rock Group of Boston, Mass., Mt. Washington Assurance’s parent corporation.

The program is expected to be a more competitive rate structure with the larger national insurers, she added.

“We’re excited about our ability to meet the unique needs of New Hampshire drivers with this innovative new auto insurance product,” noted Mt. Washington President Thom Cranley. “The winning combination of our new rating system, our agency technology, and the ongoing expertise of our independent, local agents demonstrates Mt. Washington’s commitment to true service in New Hampshire, both now, and in the years to come.”

Mt. Washington is a member of The Plymouth Rock Group of Companies, which writes and manages more than $1 billion in auto and homeowners insurance across the Northeast, and has earned a financial strength rating of “A-/Excellent” from A.M. Best, an independent insurance industry rating service. —CINDY KIBBE