June 04, 2010
By: Jana Bell
Recently, the Massachusetts attorney general proposed new regulations for auto insurance in the state.
Martha Coakley said that consumers in the state have seen a number of improvements as the result of deregulation of auto insurance in the state two years ago. However, she also said that steps could be taken to give Bay Staters more protection.
"The consumer protections we are proposing today will enhance competition in the auto insurance market, improve consumers' ability to shop effectively for premiums, better prevent deceptive practices by insurers and ensure greater transparency and fairness for all," Coakley said.
The regulations also cover other issues, such as discrimination and the unfair cancellation of auto insurance policies. However, the Property Casualty Insurers Association of America recently came out against the proposal, saying it could deprive consumers of the discounts offered through the new auto insurance system in Massachusetts.
The group noted that before deregulation, the state had the least competitive auto insurance market in the nation, and that adding additional regulations could reduce the new kinds of offers being made to consumers.
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