Commerce Insurance Company News

Massachusetts SJC Issues Decision in Auto Insurance Dispute

The Supreme Judicial Court in Massachusetts (SJC) has answered a question regarding the priority of coverage for two automobile insurance policies covering a single motor vehicle accident. In its ruling, the SJC decided both excess policies cover the accident equally …

Mass. Court Finds Defendant Guilty of Insurance Fraud in Car Accident Case

The Massachusetts Appeals Court has affirmed a lower court’s decision to charge the defendant in a case involving a Boston car accident with motor vehicle insurance fraud. However, the Appeals Court reversed the lower court’s decision to also charge the …

Small Business Insurance Site CoverWallet Pulls In $7.8 Million in Funding

Online commercial insurance agency CoverWallet announced it has received $7.8 million in funding in a Series A round led by Union Square Ventures, bringing its total raised to date to $9.5 million. In addition to Union Square Ventures, Index Ventures …

MAPFRE Enters Life Insurance Market in Massachusetts

MAPFRE U.S.A. said it has begun selling a term life insurance product in Massachusetts, where MAPFRE’s affiliate Commerce Insurance Company is the largest auto and home insurance carrier. MAPFRE said it is seeking to leverage its dominant position in the …

Mass. Motorcycle Owners to Receive $14.6M in Refunds From Commerce

Thousands of Massachusetts motorcycle owners will receive a total of $14.6 million in insurance refunds as a result of a settlement with Commerce Insurance Company after allegedly being overcharged on their policies. The settlement was announced by Massachusetts Attorney General …

Ratings Recap: Penn National, MGA, MAPFRE USA

A.M. Best has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of Pennsylvania National Mutual Casualty Insurance Company and its subsidiaries, Penn National Security Insurance Company, Founders Insurance Company and Partners Mutual …