Latest Massachusetts Headlines
All the headlines from our Massachusetts Topic Page, ordered by recency.
Mass. Insurers Told of Ways to Manage High Risks
May 25 2004 // Pilgrim Insurance Company, a business process outsourcing firm in Boston, last week sponsored a timely seminar to promote awareness of auto reform and methods for managing high risk business in Massachusetts. Industry...
Mass. High Risk Plan Passes Key Vote; Insurers Expected to Begin Offering Agents Contracts
May 24 2004 // A plan to convert the state’s high risk auto reinsurance facility in Massachusetts to an assigned risk plan (ARP) was approved by the industry officials running the current plan at a special meeting on March 20. One...
Mass. Man Guilty in Employment Agency Fraud
May 24 2004 // A former Malden, Massachusetts man who pleaded guilty in a fraud scheme involving a temporary employment agency has been sentenced to more than two years in prison and must forfeit more than $700,000. Tan Ngo, 47, also...
Mass. TPA Proposal Could Put Injured Workers at Risk
May 24 2004 // A Massachusetts budget amendment to explore the designation of a third party administrator (TPA) to manage part of the state’s workers’ compensation assigned risk pool could compromise the services received by...
Mass. Senate Approves Anti-Runner Bill, 39-0
May 21 2004 // The Massachusetts Senate has passed a bill to criminalize the practices of runners in insurance fraud schemes. The measure passed 39-0 and was sent to the House. The measure makes it a crime to engage in the practice of...
Mass. Doctors Decry Latest Malpractice Hike
May 18 2004 // Massachusetts doctors face their fourth straight year of double-digit malpractice insurance rate increases, according to the Massachusetts Medical Society, with the average rate from the region’s largest insurer...
Mass. Gov. Romney Kicks Auto Insurance Reform into High Gear
May 17 2004 // The industry officials who run the private passenger auto high risk system in Massachusetts have started drawing up rules in response to urgings by the administration of Gov. Mitt Romney to make their operations and the...
PCI Urges Commonwealth Auto Reinsurers to Adopt Changes in Way It Operates
May 6 2004 // The Property Casualty Insurers Association of America (PCI) has urged the Commonwealth Automobile Reinsurers (CAR) Governing Committee, the board that oversees the high-risk auto insurance pool in Massachusetts, to...
Hub International Purchases Mass. Firm
May 6 2004 // Hub International Limited announced that their Wilmington, Massachusetts-based hub, C.J. McCarthy Insurance Agency (McCarthy) has purchased for an undisclosed amount of cash the assets of Lyman Insurance Agency Inc. and...
Mass. Commissioner Orders High Risk Pool Changes Within 30 Days; Governor Names Reform Task Force
Apr 30 2004 // Just hours after Massachusetts Insurance Commissioner Julianne Bowler formally called upon the industry to come up with a plan to change the way private passenger auto high risks are handled, officials of Commonwealth Auto...
Report on Mass. Auto Cites Rate Subsidies and Barriers to Entry; Romney to Name Task Force
Apr 29 2004 // A much-anticipated analysis of the Massachusetts private passenger auto insurance system finds that 14 percent of the state’s drivers pay less than loss costs indicate they should, while 86 percent pay more to...
Funds Available for Mass. Flood Victims
Apr 29 2004 // Five Massachusetts counties that experienced severe flooding early this month have been declared major disaster areas, making residents and businesses eligible for federal aid. President Bush declared that emergencies...
Mass. Plumber to Spend Time at Home for WC Fraud
Apr 27 2004 // An Abington, Massachusetts man has pleaded guilty to charges he schemed, along with his insurance agent, to avoid paying more than $131,000 in workers’ compensation insurance premiums, Attorney General Tom Reilly...
cigna
Apr 26 2004 // The Commerce Group, Inc. (NYSE:CGI ) reported 2004 first quarter results including et earnings of $51.0 million, or $1.56 per diluted share, compared to net earnings of $12.9 million or $0.40 per diluted share for...
Mass. Rep. Barney Frank Covers a Flood of Issues on Final Day at National Legislative Conference
Apr 23 2004 // Washington, D.C. – Rep. Barney Frank (D-Mass.), ranking member of the House Financial Services Committee, told a gathering of independent insurance agents on the final day of the Independent Insurance Agents &...
Mass. Proposal Sees New Auto Plan by 2008
Apr 21 2004 // The campaign to change the way Massachusetts handles high risk private passenger auto policies moved forward last week with the emergence of a draft outline agreed upon by two major players in the effort, the Massachusetts...
Mass. Gov. Vows Action on Auto:
Apr 19 2004 // Gov. Mitt Romney vowed to introduce a plan to introduce competitive rating and modify the subsidies good drivers now pay in the Massachusetts auto system. Romney said his plan would include changes to the residual market...
Mass. Streamlines and Equalizes Agents’ Access to CAR’s Commercial Auto High Risk Operation
Apr 17 2004 // The Massachusetts auto insurance industry is streamlining the way it handles high risk commercial auto risks by reducing the number of servicing carriers involved in handling them and equalizing access to the residual...
Manulife-John Hancock Merger Wins Mass. OK
Apr 14 2004 // Manulife Financial Corporation has received approval from the Massachusetts Division of Insurance (DOI) for its proposed merger with John Hancock Financial Services, Inc. The DOI is the principal U.S. regulator for John...
Mass. Fraud Task Force Targets Two Cities
Apr 13 2004 // In a targeted effort to reduce the number of fraudulent auto insurance claims that drive up premium costs for residents of Springfield and Holyoke, Mass., a task force has been formed that combines the resources of the...
