April 1 marks the one year anniversary of managed competition for Massachusetts auto insurance, and, as the varied stories show, whether or not the consumer is benefiting is still in question.
According to Insurance Journal: “It’s difficult to measure the exact impact of the new system so far.”
Customers are saving money with managed competition according to Travelers Insurance, who states that “…approximately 75 percent of Travelers of Massachusetts’ customers saw savings on their car insurance…”
The Bedford Minuteman reports: “Consumer group representatives claimed Massachusetts drivers would have saved more on auto insurance premiums under the state’s old heavily regulated system…”