The Boston Globe is reporting this morning that the Division of Insurance has begun an examination into the executive compensation of Massachusetts insurers. Letters already have been sent out to approximately 100 carriers in the Commonwealth requesting specifics on the procedures and process for determining the exact amounts.
In an interview with the paper, the Commissioner said that once the information is collected the Division will release its findings in a report rather than taking action against individual insurers. The Globe says that the DOI had made the decision to look into the issue after that paper’s report finding that Liberty Mutual’s former Chief Executive Officer had been paid roughly $200 million over the past four years.
Continue on to The Boston Globe here to read the entire article.
