Business Services Industry
Massachusetts Politics, Auto Insurance Rates Too Close for Industry's Comfort.(Originated from The Boston Globe)
Knight Ridder/Tribune Business News, December, 1997 by Mohl, Bruce
Dec. 9--Officially, politics plays no role in the setting of Massachusetts auto insurance rates. Unofficially, insurance industry officials say politics and the desire to curry favor with voters has become the driving force in the regulatory process this year.
The first sign of political involvement came when the state's insurance companies abandoned their bid for a 7.8 percent rate increase and settled for a 3 percent rate cut. With the governor's race heating up, the companies said privately that they didn't want to risk getting an even steeper rate cut from Insurance Commissioner Linda Ruthardt, an appointee of Acting Governor Paul Cellucci.
And now, with Ruthardt about to decide whether to slash insurance agent commissions next year and...
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