A ripple from state’s auto-policy market
The Boston Globe published an article this morning about the unexpected benefit of the state’s switch to “Managed Competition” which has resulted in many homeowners now having more options available to them aside from Mass. FAIR Plan.
The article says that since 13 new insurers entering the state as a result of “managed competition,” nearly 27,000 homeowners insurance customers or 16 percent of the FAIR Plan’s base have left the plan. The unexpected effect of “bundling” policies has helped to create less demand for the insurer of last resort for the Commonwealth’s homeowners.
