Massachusetts Attorney General Martha Coakley and a North Carolina insurance company have reached a settlement barring the company from using what Coakley described as unfair ratings practices.
Occidental Fire and Casualty Insurance Co. has filed a rating plan to begin writing car insurance policies in Massachusetts.
Under the settlement, Coakley said Tuesday the company has agreed not to charge an additional $25 fee for each insurance policy or add a 25 percent surcharge on high risk vehicles.
The company also agreed not to rate Massachusetts drivers based on length of residency or limit the right of policyholders to cancel their policies after giving proper notice.
An Occidental spokeswoman declined comment.
Topics Carriers Massachusetts
Was this article valuable?
Here are more articles you may enjoy.
AIG’s Zaffino to Step Down as CEO as Aon’s Andersen Steps In 
’60 Minutes’ Homeowners Ask Court to Force DFS to Divulge Heritage Probe Info 
Howden US Tells Judge Brown & Brown Employees Fled Due to ‘Mistreatment’ 
CRC Group Signs Agreement to Acquire Euclid Transactional 
