Geico is entering the auto insurance market in Massachusetts.
State Insurance Commissioner Nonnie Burnes confirmed in a statement Friday that the nation’s third-largest auto insurer has filed to begin selling premiums in May.
Geico would become the second major national insurer to being doing business in Massachusetts since the state moved to “managed competition” for auto insurance a year ago. Progressive was the first.
Massachusetts had been the last state where car insurance rates were set by regulators.
Burnes said Geico’s filing shows that managed competition is bringing more choices to consumers in the state.
Burnes said the Division of Insurance is reviewing the filing to make sure it complies with consumer protection requirements.
Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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