The Commerce Group, Inc. has entered into an agreement with MassWest Insurance Company for the transfer of Massachusetts personal automobile business written by MassWest to The Commerce Insurance Company, effective Nov. 1.
Under terms of the agreement, Commerce Insurance shall offer agency contracts to independent agencies that represent MassWest for personal automobile insurance in Massachusetts. This will allow agents of MassWest the opportunity to offer Commerce automobile insurance policies to their customers, who are currently insured by MassWest, beginning with policies that renew after that date. Commerce will assume all of MassWest’s obligations for future policy years beyond 2002 under the Massachusetts residual market system, commonly known as C.A.R. (Commonwealth Automobile Reinsurers), and receive consideration of $2,500,000 from MassWest.
The Commerce Group, Inc. is headquartered in Webster, Mass. Property and casualty insurance subsidiaries include The Commerce Insurance Company and Citation Insurance Company in Massachusetts, Commerce West Insurance Company in California and American Commerce Insurance Company in Ohio. The Commerce Group, Inc. companies predominantly offer personal automobile insurance along with a broad range of other personal and small commercial products.
The products are marketed to affinity groups, individuals, families and businesses through the company’s relationships with professional independent agents.
Topics Massachusetts
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