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Subsequent Events
3 Months Ended
Mar. 31, 2020
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
 
The Exchange is planning rate reductions in response to changes in exposure and to provide financial relief to policyholders due to the COVID-19 pandemic. In a Form 8-K filed with the SEC on April 9, 2020, the Exchange and its subsidiaries announced an estimated $200 million in personal and commercial auto rate reductions scheduled to begin in the second half of 2020, pending regulatory approval. Once approved, premium adjustments will take effect at the time of new policy initiation or renewal. The estimated impact of these rate reductions on 2020 premiums written by the Exchange is a reduction of approximately $90 million, which will result in an estimated $23 million reduction in our management fees.