Archive for August, 2007

Critics hit state auto insurance proposal

Boston.com, August 30, 2007 — The proposed rules for auto insurance competition in Massachusetts were met yesterday with skepticism from consumer advocates and caution from at least some insurers.

Four Insurers Said to Be Eyeing Mass. Auto Market After Deregulation

Insurance Journal, August 30, 2007 — Massachusetts Insurance Commissioner Nonnie Burnes says four insurers not now writing auto insurance in the state have said they will enter if her plan to allow competitive pricing goes forward …

Ma. Mulls Car Insurance Proposal

Forbes.com, August 29,2007 — Insurance Commissioner Nonnie Burnes proposed opening the state’s regulated auto insurance market to greater competition, but she wants to bar insurers from using socio-economic factors such as marital status and education in setting rates.

08/29/2007

DOI publishes proposed regulations.

Auto insurance proposal would ban socioeconomic factors in rates

Mass.gov, August 28, 2007 — News release from the Commonwealth of Massachusetts’ Office of Consumer Affairs and Business Regulations, stating that the Commissioner’s draft regulation, issued to guide the gradual transition from state set rates to managed competition, will ensure a smooth transition to the new system.

N.J. car rate specialist backs social factors

Boston.com, August 26, 2007 — New Jersey’s former insurance commissioner said it will be difficult to attract national automobile insurance carriers to Massachusetts without allowing them to use such socioeconomic factors as credit history, homeownership, occupation, or education.

State of competition

Boston.com, August 26, 2007 — New Jersey may offer drivers here a glimpse of the road ahead if the Bay State loosens insurance restrictions.

Put brakes on deregulated auto insurance, senators say

Boston.com, August 24, 2007 — Insurance Commissioner Nonnie S. Burnes has promised to keep a tight regulatory rein on automobile insurers as competition is introduced next year, but several state senators said yesterday they weren’t content to rely on the commissioner’s assurances.

Danger seen in revamping car insurance

Telegram.com, August 24, 2007 — Legislators worried that the limited auto insurance deregulation plan being undertaken by the Patrick administration will raise rates for many drivers, raised serious concerns in a Senate committee session yesterday that increased competition could end up putting as many as 1 million Massachusetts residents into costly assigned-risk pools.

Mass. Senators Leery of Auto Competition Effort

The Standard, August 17, 2007 — Senate members of the Massachusetts Legislature’s Joint Committee on Financial Services questioned Commissioner Burnes on the proposed auto insurance reform, expressing particular concern about how socioeconomic factors would be used under the new, competitive system.