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11/23/2004
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Auto insurance markets are atypical. To illistrate this, it is helpful to compare the market for auto insurance with the market for refrigerators. The market for refridgerators is an excellent example of an efficient market. The auto insurance market, in sharp contrast, is a very inefficient one, at least from the consumer’s perspective, and is unlike most markets . . .
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03/15/2007
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The Commissioner of Insurance should examine alternatives to move towards competitive rating using flex-bands while maintaining affordability for all drivers, minimizing disruption to the market and maintaining consumer protections. |
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02/28/2008
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Under the new “managed competition” rating system, “who you are” has become more important than “how you drive.” Starting in April, factors relating to “who you are” – income, marital status, homeownership, education, age, race, and other factors supposedly prohibited for use by the Division of Insurance – will take center stage in the Massacusetts auto insurance market. Driving record is no longer the primary rating factor and is now a diluted factor. |
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