WHDH-TV in Boston reports on the further deregulation of the Massachusetts Auto Insurance market. The story, published in March of 2007, explains the creation of the Massachusetts Automobile Insurance Study Group by Massachusetts Governor Deval Patrick.
Most notably, the study group recommended that rates be set not by Massachusetts state regulators, but by market demand. What does this all mean? Essentially, the study group called for the creation of a completely free market for Massachusetts auto insurance, with zero government involvement in the setting of premium rates.