Attributing the savings to his denial of “unjustified” rate increases, Montana Insurance Commissioner James Brown announced on May 8 that more than $4 million has been saved for Montana customers so far this year.
According to Brown’s office, from Jan. 1 to April 30, Montana consumers have saved $4,169,931 in unjustified – and blocked – rate increases. This figure represents a direct benefit for 72,146 Montana insurance consumers, Brown’s announcement added.
To date, Brown has denied nearly $24 million in rate increases since taking office as Montana’s insurance commissioner 16 months ago.
“It’s my duty to stand up for Montana consumers in the insurance market. One of the best tools I have in my toolbox for saving Montanans money is denying unjustified insurance rate increases,” Brown said. “Montanans are working harder than ever to get by, and I have worked hard to put a little extra money back in their pockets, which can be used to afford housing, groceries, and other necessities.”
Brown first began tracking the savings Montanans receive from denied rate increases as part of the strategic performance plan he instituted for the State Auditor’s Office.