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November 24, 2004
Mass. Approves New Residual Auto Plan
After years of industry complaints and months of wrangling among regulators, carriers, voluntary agents, involuntary agents, consumers and lawmakers, Massachusetts has overhauled its system of insuring high risk drivers.
Massachusetts Insurance Commissioner Julianne M. Bowler on Nov. 23 issued an order approving new rules for what proponents hope is a more equitable distribution of high-risk drivers among insurers in the state's residual auto insurance market.
Posted by Tom Troceen