An announcement from Attorney General Martha Coakley has stated that Massachusetts motorcycle owners who have been overcharged by their insurers will be receiving over $5.6 million more in refunds following the most recent settlements. All told, there are 15 motorcycle insurance companies involved in the settlement with the attorney general, agreeing to refund almost $40 million to their policyholders in Massachusetts. Coakley’s press release, which announced the settlement, said that she is satisfied with the investigation that was initiated by the complaint of one customer, but that “has resulted in…
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Massachusetts motorists to receive refunds for overly priced motorcycle insurance
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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