Trade Group Hails Report by National Insurance Regulator Group PRESS RELEASE, BOSTON:“The verdict is in and it is remarkable: Since the introduction of competition, consumers in Massachusetts have seen their auto insurance rates decline by the most of any state in the nation,” said James T. Harrington, the Executive Director of the Massachusetts Insurance Federation (MIF.) “Polling has been clear that competition is very popular with Massachusetts consumers but now we know, too, that industry regulators throughout the country agree that the remarkable decrease by an average 12.7% for auto…
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Parent’s Supervised Driving Guide launched by Safe Roads Alliance, Safety Insurance, and the Mass RMV
Top home, auto, and commercial insurer in New Hampshire and Massachusetts, Safety Insurance, has announced that it is working with the nonprofit organization, Safe Roads Alliance, which works to promote driving safety, to offer The Parent’s Supervised Driving Guide with the support of the Massachusetts Department of Transportation Registry of Motor Vehicles (Mass RMV). Safety Insurance and Safe Roads Alliance have created the program in their combined effort to better the awareness and education of drivers in Massachusetts by offering a free resource to guardians and parents of the recipients…
Read MoreMassachusetts certifies its first two cooperative insurance purchasing groups
More than a year after Massachusetts passed a law allowing for the state’s first cooperative insurance groups to operate in the state, two organizations have been certified as purchasing cooperatives. The Retailers Association of Massachusetts and the Massachusetts Association of Chamber of Commerce will now be able to negotiate with health insurance companies in the hopes of producing more affordable insurance products. The groups hope to attract thousands of new consumers with these products and alleviate some of the financial burdens that have been damaging the state’s economy. Small businesses…
Read MoreMassachusetts insurers banned from using credit score to price auto insurance, according to new law
A new law has passed in Massachusetts that will ban insurers from pricing auto insurance based upon socioeconomic factors. Governor Deval Patrick signed the associated bill into law this week and believes that it will afford consumers with more protections against insurers constantly on the lookout for extra money. The ban was already enacted in the state some months ago but existed only as an administrative regulation. The bill’s passage comes after months of legislative struggle and conflict between consumer advocacy groups and insurance companies. Insurers opposing the measure claim…
Read MoreState Farm auto insurance remains outside of Massachusetts
Following the end of the state-set auto insurance rates in Massachusetts three years ago, there have been over a dozen new insurers that have rushed in to take their piece of that sector. However, the largest auto insurer in the country, State Farm Mutual Automobile Insurance Co., has decided that it will be remaining outside of the state. Other insurers that have made their way in include Allstate, Geico, and Progressive. It’s believed that a fourteenth new auto insurer, Sun Prairie, Wisconsin-based General Casualty, will soon be joining that market.…
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