Motorcyclists in Massachusetts are about to receive refunds from insurance companies that may have overcharged for coverage this week. State insurance regulators have been investigating the issue for the best part of two years. Last year’s settlements brought motorists nearly $35 million in payouts. This year, three insurance companies have agreed to settle outstanding claims, which will bring an additional $5.7 million to motorcyclists in the state. According to Attorney General Martha Coakley, Travelers, Fireman’s Fund and the Electric Insurance Company have all agreed to issue refunds for overly inflated…
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Seventeen Connecticut homeowners insurers waive Irene damage hurricane deductibles
According to the Malloy administration, almost 70 percent of the homeowners insurance companies in Connecticut have announced that they will be forgiving the more expensive deductibles for damage claims relating to Tropical Storm Irene. According to a statement made by Governor Dannel P. Malloy and Insurance Commissioner Thomas Leonardi, “Failure to do this would result in many homeowners paying tens of thousands of dollars out-of-pocket.” Even though Irene had been downgraded to a tropical storm by the time it reached the state, the clause for hurricane deductibles became effective for…
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