Keene, N.H.-based Peerless Insurance said it has issued its first Massachusetts personal auto insurance policy in more than 20 years.
The company, part of Liberty Mutual Group, first announced in November it would re-enter the Massachusetts personal auto insurance market under the new system of managed competition.
The policy was sold through Berkshire Insurance Group Inc. an agency in western Massachusetts with 10 full-service locations. Berkshire is one of 10 pilot agencies currently selling coverage through Peerless. Peerless said it has agency distribution in 250 locations in the Bay State.
Peerless said it will increase its agent force over the coming years, and has plans to add as many as 40 Massachusetts-based employees to its claims, underwriting, marketing and information technology operations by 2010.
“We are absolutely delighted to be back and look forward to providing consumers with another quality choice in the marketplace,” said Michael Christiansen, president and chief executive officer of Peerless. “Based on our success and tradition in the Northeast, we know the value our customers place in working with our independent agents to understand and choose their coverages.”
Peerless said it plans to give substantial discounts to new policyholders, as well as other discounts for annual mileage, driver training, driving years, good students, multiple cars and tenure. In addition, Peerless is offering new car and mechanical parts replacement coverage for no extra premium.
In 2007, Peerless wrote more than $1 billion in commercial and personal lines premium in its eight-state, Northeast territory, with approximately $67 million in commercial lines premium in Massachusetts.
Source: Peerless Insurance
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