Mass. Commissioner Approves 8.3 Percent Auto Rate Cut

Massachusetts Insurance Commissioner Linda Ruthardt sided with consumer advocates and called for a 8.3 percent overall decrease in personal auto rates for 2001. Following the decision, representatives from the auto insurance industry, which had suggested a .7 percent increase in rates, warned that they might not be able to cover claims costs with the new rates and could be forced to withdraw some auto discounts.

Massachusetts Attorney General Thomas Reilly joined the State Rating Bureau in urging state insurance regulators to cut personal auto insurance rates. The AG’s office called for a 10 percent decrease. The State Rating Bureau has suggested a 12.9 percent decrease.

Topics Auto Massachusetts