Massachusetts Division of Insurance News

Massachusetts Division of Insurance Urges Carrier Flexibility with Vacancy Provisions

The Massachusetts Division of Insurance has notified all property and casualty insurance carriers in the state that they are expected to take steps to preserve insurance coverage for businesses ordered to shut down due to the coronavirus crisis. “Insurance coverage …

Mass. Attorney General Calls on Division of Insurance to Lower Auto Premiums

Massachusetts Attorney General Maura Healey’s office has called on the Massachusetts Division of Insurance (DOI) to direct all auto insurance companies doing business in the state to lower premiums during the COVID-19 pandemic. In a letter sent Monday to Massachusetts …

Mass. Division of Insurance Approves 6.8% Reduction in Workers’ Comp Rates

The Massachusetts Division of Insurance has approved a 6.8% reduction in the existing overall average workers’ compensation insurance rates for policies effective on and after July 1, 2020. The rate decrease was the result of a compromise reached by the …

Radius Financial Group Launches Massachusetts-Based Insurance Agency

Licensed mortgage lender Radius Financial Group has launched a new company to service clients’ insurance needs. The Norwell, Mass.-headquartered private, full-service insurance agency is called Radius Insurance Group Inc. It will offer commercial and personal insurance, including auto, home, property, …

Anderson Appointed as Commissioner of Massachusetts Division of Insurance

Governor Charlie Baker has appointed Gary D. Anderson as commissioner of the Massachusetts Division of Insurance (DOI), a regulatory agency under the Office of Consumer Affairs and Business Regulation. Anderson has served as acting commissioner since February of this year …

MAPFRE Insurance to Provide Coverage for Massachusetts Rideshare Drivers

In an important move aimed at protecting Massachusetts drivers, MAPFRE Insurance will be among the first insurers in the state to offer gap coverage to auto insurance policyholders using their personal cars to drive for rideshare companies like Uber and …

Massachusetts Workers’ Comp Rates to Rise an Average of 1.5%

Massachusetts Gov. Charlie Baker’s administration announced Wednesday that the state’s workers’ compensation rates will rise an average 1.5 percent beginning July 1. Officials said this nominal increase is the result of a settlement between the Division of Insurance’s State Rating …

Massachusetts Regulators Examine Zenefits

The Massachusetts Division of Insurance said this month that it has opened an investigation into Zenefits, a human resources software startup. Founded in 2013, the San Francisco-based Zenefits offers software to small- and mid-sized businesses to help automate their HR …

Massachusetts Bill Aims to Open Up Home Rate Filings for Discussion

The Massachusetts Senate recently passed a legislative amendment that would open up home insurers’ rate filings for public discussion. The amendment was proposed by Massachusetts State Senator Mike Barrett, D-Lexington. The lawmaker said the measure would benefit homeowners who are …

Mass. Homeowners See Higher Premiums After Last Year’s Winter Storms

Massachusetts residents are still getting hit by last year’s brutal winter. The Boston Globe reports that more homeowners are getting stuck with higher insurance bills following last year’s record-setting snowfall. Filings from the state Division of Insurance indicate that about …