Rate Capping

Projected release date: November 2020

Rate Capping will allow a carrier to cap a renewal rate change at each renewal until reaching the approved rate level. Carriers will be able to cap rate change at a maximum percent increase (or decrease) or a set dollar amount.

With rate capping, carriers can present new business rates while gradually introducing significant rating plan changes to new customers, which leads to higher retention rates and lower complaint levels.

Additional information