The Massachusetts Property Insurance Underwriting Association (FAIR Plan) has agreed to pay $350,000 to resolve allegations that it wrongly cancelled homeowners insurance policies over a four-year period, according to Attorney General Maura Healey. According to court documents, the residual market …
Massachusetts Attorney General Maura Healey said national mortgage lender and servicer HSBC has agreed to pay $4 million to resolve allegations involving force-placed insurance practices. The settlement resolves allegations that HSBC received commissions and other “kickbacks” relating to force-placed insurance …
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 …
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 …
The Massachusetts Division of Insurance recently published on its website written public comments that were received in conjunction with the Division’s informational hearings on the Massachusetts home insurance marketplace. These consumer comments illustrate how some Massachusetts homeowners are feeling increasingly …
The Massachusetts Division of Insurance recently denied a request by Mapfre USA Corp. to add an ice-dam deductible to some homeowners policyholders who previously had multiple ice-dam claims. Mapfre USA Corp., the largest commercial home insurer in Massachusetts, had asked …
Massachusetts Attorney General Maura Healey says two of the state’s largest homeowners’ insurance companies won excessive and unwarranted rate increases of about 9 percent by taking advantage of last winter’s record snowfall. The Boston Globe reports that Healey’s office found …
Massachusetts state insurance officials are going on the road with a series of public hearings to explore how homeowners insurance is sold in Massachusetts. The Massachusetts Division of Insurance says the hearings will give consumers a chance to express concerns …
A Massachusetts Senate panel is examining recent hikes in homeowner insurance rates in Massachusetts. The Senate Post Audit and Oversight Committee has called insurance company officials and state regulators to testify at a public hearing on Tuesday. Sen. Michael Barrett, …
The Massachusetts Senate’s oversight body is launching an inquiry into homeowners insurance rate increases approved by the Division of Insurance (DOI) this year after a brutal winter led to increased claims activity. State Senator Mike Barrett (D-Lexington), chair of the …
