March 18, 2010 – 12:10 pm
The Massachusetts Division of Insurance has issued an official warning to all auto dealers in the state. Salespersons are told to watch what they say and do regarding auto insurance while selling a vehicle. Joseph Murphy, the Massachusetts Commissioner of Insurance, published a letter addressed to all auto dealers and salespersons on the Consumer Affairs [...]
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Drivers who own vehicles recalled by Toyota over the past month have raised concerns about what this means for their insurance coverage and rates. Drivers who were involved in an accident prior to the recall have faced surcharges other related costs of an “at-fault-accident” that may have been due to the manufacturer’s defects and reason [...]
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February 18, 2010 – 10:00 am
This past Tuesday the Massachusetts Supreme Judicial Court upheld the Massachusetts Division of Insurance’s decision to temporarily excluded new auto insurance companies from covering high risk drivers. The Abrella Mutual Insurance company filed a lawsuit claiming Nonnie Burnes had exceeded her authority as the insurance commissioner while favoring national companies new to the Bay State. [...]
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February 10, 2010 – 11:11 am
Joseph Murphy has been named the new Commissioner of the Massachusetts Division of Insurance. He has acted as commissioner since September 2009 after Nonnie Burnes resigned from the position. Serving as first deputy of commissions since 2006 he has played an active role in the transition to managed competition. However this is not his only [...]
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December 3, 2009 – 10:54 am
The Massachusetts Division of Insurance serves the people of Massachusetts and the insurance carriers. The DOI Mission Statement states it’s primary mission is to overlook the solvency of it’s licensees to create and maintain a productive and willing market for insurance consumers. It also includes the following: “Protection of consumer interests is of prime importance [...]
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September 23, 2009 – 2:22 pm
The Division of Insurance or the DOI issued an executive summary about the progress of Massachusetts change to managed competitive. Under the old system, state regulators set the insurance rates that all automobile insurance companies were allowed to charge. The new system has generated some excitement and brought in nine additional insurance carriers to the [...]
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In April 2008, the state government put a managed competition system in place through the Division of Insurance. After some time, the system still continues to receive mixed reviews. Before the system, state government set the rates for auto insurance effectively regulating insurance providers’ ability to raise rates to gain more revenue. When the plan [...]
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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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