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Frequently Asked Questions: Best's State Rate Filings: Overview
What is Best's State Rate Filings?
How can I benefit from using Best's State Rate Filings?
What information is presented in this product?
What makes Best's State Rate Filings unique?
How are the monthly filing reports organized?
How does A.M. Best obtain the information contained in the reports?
What purchase options are available?
What are the differences between the two purchase options?
What search features are available?
Are multi-state discounts available?
How many states are offered?
How often are rate filings published?
Is historical data available for market trend research?
How much does it cost?
Can I add states to my subscription at any time?
How can I order or receive additional information?
What is Best's State Rate Filings?
Best's State Rate Filings is an online service that covers insurers in 43 states, representing nearly 100% of the U.S. property/casualty premiums written each year. This invaluable tool provides industry professionals with state-specific information regarding approved filings -- including policy rate changes, loss cost information and new programs.
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How can I benefit from using Best's State Rate Filings?
This service lets insurers monitor competitors, plan policy changes and examine the latest filings. We do the legwork for you, with coverage in 43 states of all of the top writers, in a database containing over 300,000 rate changes dating back to 2000. With this service, you can quickly and easily locate similar rate or policy changes prior to formalizing your own. Additionally, you can view the most recently approved and significant rate filings on the product home page.
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What information is presented in this product?
Each filing summary includes the company; subject, policy or program; effective date; insurance department filing number; description of filing; and overall rate level effect. All filings have been approved or filed for use by insurance companies with their state insurance departments, covering both commercial and personal lines of business. View our Editorial Policy for more information.
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What makes Best's State Rate Filings unique?
With over 30 years of experience, our team of professionals sorts through the paperwork attached to each filing, isolating the key pieces of information you want -- and need -- to know. We consolidate the many state filing formats into one easy-to-read format so filings can be compared and analyzed across states.
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How are the monthly filing reports organized?
Separate sections are included for each commercial and personal line of insurance, including data on the overall impact of rate filings.
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How does A.M. Best obtain the information contained in the reports?
We analyze and interpret these reports based upon information submitted by insurance companies and retrieved from state insurance departments.
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What purchase options are available?
We offer two purchase options: the Searchable Database and Monthly Rate Filing Reports, or just the Monthly Rate Filing Reports.
Each option provides a 12-month subscription to Best's State Rate Filings on a per-state basis. All subscribers receive an e-mail alerting them whenever a new state filing is posted on the Best's State Rate Filings Web site.
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What are the differences between the two purchase options?
The Searchable Database and Monthly Rate Filing Reports option provides a comprehensive search engine and a two-year archive of monthly rate filing reports. It offers an extensive database that includes filings dating back to 2000, and provides value-added market share data for most insurers, taken from our Best's State/Line product.
Direct access to the entire set of data fields published in the monthly rate filing reports is provided, enabling users to search across multiple states, sort by a variety of categories and export the data directly to Excel.
The Monthly Rate Filing Reports option is an easy-to-use service providing access to the latest filings per state via the A.M. Best Web site. Both current and prior monthly rate filing reports are posted online as Adobe PDFs that may be viewed, printed or saved.
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What search features are available?
Our comprehensive searchable database lets you locate exactly what you need using a variety of filters. You can save your searches to reuse as new filings are published.
Filters include:
· Specific commercial/personal line or program
· Filing Number, Overall Effect Percentage, Loss Cost Multiplier
· Text within the monthly reports
· Company names, groups or agencies/organizations.
· NAIC, FEIN, and AMB company numbers
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Are multi-state discounts available?
Yes. Purchase five to nine states and receive 5% off, ten to 24 states and receive 10% off, or 25 or more states and receive 15% off. Multi-user discounts are also available.
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How many states are offered?
Currently, A.M. Best collects information from 43 states, which covers nearly 100% of all direct premiums written nationwide.
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How often are rate filings published?
The rate filing reports are published once a month per state, and in real time for the searchable database.
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Is historical data available for market trend research?
Yes, the Searchable Database edition includes filings dating back to 2000. This edition also includes a two-year archive of monthly rate filing reports.
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How much does it cost?
Best's State Rate Filings costs $805* per state for the Searchable Database and Monthly Rate Filing Reports, or $625* per state for just the Monthly Rate Filing Reports. You'll also receive a one-year subscription to Best's Review magazine for each state purchased, whichever option you choose.
*$50 is allocated toward Best's Review subscription.
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Can I add states to my subscription at any time?
Yes, additional states can be added after your initial purchase, and all appropriate discounts will be applied.
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How can I order or receive additional information?
Call (908) 439-2200, ext. 5674 or e-mail ratefilings@ambest.com. You can also visit ratefilings.ambest.com for additional information.
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