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Monday, June 8, 2015
Massachusetts Attorney General alleges nearly $1 billion overcharge on commercial auto insurance
Massachusetts Attorney General Martha Coakley has issued a press release alleging that businesses in the state have been overcharged by nearly $1 billion on commercial auto insurance in the past seven years.
Coakley cited data showing that insurers' underwriting profits were significantly higher in Massachusetts than the national average. She has requested that the Commissioner of Insurance reduce insurance rates so that they comply with a statute forbidding rates that are "excessive" or "unreasonably high."
