Insurance Rate Increase Denied

gavelBARNSTABLE –  The recent denial by the state Insurance Commissioner of a proposed increase in homeowner’s insurance premiums was met with sighs of relief across Cape Cod.

Insurance companies were seeking rate increases of 19 percent; local advocate for insurance reform, Paula Aschettino, said the rejection of the increase also sets new paramaters for insurers.

Aschettino said her group, Citizens for Homowners Insurance Reform, will continue to keep pressure on regulators to increase oversight of insurance companies.