Live Insurance News

Senate to investigate growing homeowners insurance premiums in Massachusetts

August 12, 2015August 11, 2015 Nordstrom

Senate panel will uncover the necessity of homeowners insurance rate hikes Homeowners insurance premiums are spiking in Massachusetts, and a new Senate panel intends to look into the issue. The Senate’s Post Audit and Oversight Committee will be investigating the Massachusetts Division of Insurance and its approval of costly homeowners insurance rate increases. Senator Michael Barrett will be leading the Senate panel in the investigation. Depending on the findings of the investigation, homeowners in Massachusetts could eventually see some relief to growing homeowners insurance rates. State regulators approve rate increases…

State to investigate homeowners insurance rate hikes

July 31, 2015July 30, 2015 S.Vagus

Massachusetts launches inquiry into growing homeowners insurance premiums The Massachusetts Senate will be launching an inquiry into “troubling homeowners insurance rate increases.” Several homeowners in the state have been hit by large increases as insurers sought to recover from financial losses due to heavy snowfall last winter. Last year, record snowfall caused significant damage to property and loss of business, which placed more pressure on insurers who now want to recover from these losses. This is somewhat typical for the insurance industry, especially in the wake of significant natural disasters.…

Boston 2024 releases information about policies it wants from the insurance industry

July 29, 2015July 28, 2015 S.Vagus

New information emerges about the policies the state is interested in for the 2024 Olympics Boston, Massachusetts, is looking to play host to the 2024 Summer Olympic Games, and those behind the Boston 2024 initiative have released more information about the insurance proposals they believe will provide coverage for those attending the Games. Boston 2024 is responsible for the push to bring the Olympic Games to Massachusetts. The committee behind the initiative has been working on overcoming challenges that prevent the Games from coming to the state by working with…

Credit has a big impact on auto insurance premiums

June 12, 2015June 11, 2015 Marc

Report highlights the effect that credit data has on insurance prices Credit score has a lot to do with auto insurance rates, according to a recent report from WalletHub, a personal finance organization. The report focused on how a driver’s credit score affects their insurance rates in the United States. All states but California, Hawaii, and Massachusetts were examined for the report. In these states, using a driver’s credit history to price auto insurance coverage is illegal, so such information does not contribute to higher premiums. Those with no credit…

Massachusetts health insurance exchange finds success

May 8, 2015May 7, 2015 Logan B.

Survey shows that state’s insurance exchange has managed to serve many people in the state The health insurance exchange in Massachusetts may have been a resounding success, according to a new survey from the Center for Health Information and Analysis. The state served as a model for the Affordable Care Act, at least when it comes to the formation of an insurance exchange. Massachusetts enacted extensive health care reform in 2006, which lead to the creation of the Massachusetts Health Connector, which was the state’s first iteration of its insurance…