Massachusetts regulators are recommending a 14.1 percent auto insurance rate cut for 2001. The recommendation, which contrasts with the industry’s suggested 2.5 percent increase, could lead to a final decision by Commissioner Linda Ruthardt to slash rates by as much …
New England Fidelity Insurance Co. of West Springfield, has gone into receivership. It is the second Massachusetts auto insurer to go under this year. Industry officials said the failures of New England Fidelity and Trust Insurance Co. of Taunton highlight …
The Boston Globe reported today that Massachusetts Attorney General Thomas F. Reilly has sued four health-insurance companies for denying coverage to college students who were suffering from preexisting medical conditions. The companies’ denials are a violation of state law, which …
Hagerty Classic Insurance has expanded its collector car insurance program into Massachusetts. Now available in 47 states, Hagerty’s program protects antiques, classics, show cars and trucks, street rods and customs, exotic collectibles, antique motorcycles and collectible tractors. The policy includes …
The Missouri Department of Insurance and General American Life Insurance Co. of St. Louis have agreed in principle to an estimated $55 million settlement for policyholders and a $120,000 fine for alleged deceptive sales practices. MDI Director Keith A. Wenzel …
Roughly three-quarters U.S. residents live in states where insurance departments do not receive adequate funding to properly oversee the insurance industry, according to a recent survey by the Consumer Federation of America. According to the survey, consumers in Arizona, Georgia, …
MIB Group Inc., a Massachusetts-based provider of database and information management tools to the global risk management industry, is taking advantage of the latest technological developments by accepting electronic signatures as non-traditional method of consent. “As technology advances and rapidly …
Massachusetts Attorney General Thomas Reilly said yesterday he will push for an auto insurance rate cut in 2001, but said it was premature to discuss how big a decrease is warranted. Rate hearings are scheduled to begin today, and Reilly …
General American Life Insurance Co. has agreed to pay $55 million to settle a class action lawsuit alleging the company deceived life insurance policyholders. If approved by a federal judge, the money would go to 251,000 people who bought whole …
New Jersey regulators have approved the sale of Massachusetts-style savings bank life insurance—a plain term and whole-life coverage not sold by agents. For decades it was available by law only to residents of Massachusetts, Connecticut and New York through mutual …
