Martha Coakley, the Massachusetts Attorney General, has proposed new regulations that she believes will take force in sales and underwriting practices for auto insurers and agents across Massachusetts. The newly proposed regulations have been formed in response to a report published by Coakley’s office last year regarding the deregulated Massachusetts auto insurance market. Coakley said [...]
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Martha Coakley, Massachusetts Attorney General, has announced approximately three million dollars has already or will be returned to Massachusetts motorcyclists who were overcharged by Liberty Mutual. The insurance company is required by terms of a settlement reached in December to complete the process of issuing the refunds by May 1. Refunds range from amounts of [...]
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January 5, 2010 – 1:09 pm
The State Attorney General’s office released a report this last December contending the deregulated auto insurance market has not decreases rates for consumers. Prior to deregulation Massachusetts insurance rates were set by state regulators and based on driving records and location the car is registered. Because of this there was little variation in quotes from [...]
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Why will Progressive be paying Massachusetts $120,000? If you haven’t heard, Progressive was investigated for its business practices after entering the Massachusetts insurance market in May of 2008. Attorney General Martha Coakley was the first to draw attention to the problem. From the start of their operations until late last year Progressive was comparing their [...]
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January 18, 2009 – 3:18 pm
This is a worthwhile article from the Providence Journal published in 2007 that goes through some of the common objections to the deregulation of Massachusetts Auto Insurance. For some politicians like Joan Menard, D-Somerset, the primary issue that caused most concern is how competing auto insurance companies in Massachusetts would set rates and what data [...]
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November 24, 2008 – 11:23 am
At the end of 2008, Massachusetts Attorney General Martha Coakley asked the Massachusetts state Division of Insurance to look at one insurance company, Premier (a subsidiary of Traveler’s Insurance), for alleged discrimination related to home ownsership. Coakley’s office alleges that Premier’s new rating system unfairly increases rates for Massachusetts Auto Insurance consumers who do not [...]
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Massachusetts Attorney General Martha Coakley goes public with criticism of the Massachusetts Department of Insurance’s rate comparison site. According to Coakley, the site provides Massachusetts Auto Insurance consumers with inaccurate rates. It’s very important to note, however, that Coakley is not critical of comparison sites in general, but of the rates that the DOI displays. [...]
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