Two years after the Massachusetts personal auto market opened up to allow rate competition among insurers, industry representatives have hailed the entrance of new companies, new products and services offered to consumers, and the explosion of advertising that was previously non-existent.
The industry's optimism is offset by the Massachusetts Office of the Attorney General, which released a report late last year critical of the new "managed competition" system. But insurer groups have challenged the attorney general's criticisms, saying the office has opposed the new system from the start.
Prior to April 2008, the Massachusetts auto market operated under a system where the state would set rates to be used by all auto insurers. Massachusetts was the only state at the time to operate under such a system.
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