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Such a shame. A company offered a premium, a buyer accepted and paid it. To me that should be the end of the story. But no, big govt steps in to drive up costs further by forcing corporations to respond to and defend such buyer/seller (supply/demand) transactions.
In Masachussets private passenger auto rates are required to be filed and approved prior to use with the Department of Insurance. I’m thinking that the Department of Insurance would not approve a plan that would not reduce premiums with corresponding reductions in the value of the vehicle, all else equal.
The buyer accepted and paid for the coverage but did the insurer’s violate the rate filing made with the Department of Insurance? If so refunds should be expected as well as fines.
Personal Responsibility is not required in MA. If I paid too much for a good or service, I’ll complain to the state and they make it right. Geez… what a world.