Two Homeowners Insurance Public Hearings to be held in Southeastern Mass

home insuranceBARNSTABLE – A series of homeowners insurance informational hearings are being held across the state on rate filings and other submissions to the Division of Insurance regarding the marketing and sale of insurance policies.

There are five more hearings scheduled this fall and two will be held in southeastern Massachusetts. One of the sessions will be at Barnstable Town Hall on December 8 at 11 a.m. and the other will take place at New Bedford City Hall on December 2 at 11 a.m.

“I hope citizens will come out and be present to show that there are problems with our premiums again and other issues regarding homeowners insurance,” said Paula Aschettino, chair and founder of Citizens for Homeowners Insurance Reform.

Citizens for Homeowners Insurance Reform is a non-profit organization fighting for fair, reasonable and non-excessive homeowners insurance rates without the loss of coverage and no shift of risk to the customers. The group has thousands of members that are Massachusetts coastal property owners.

Aschettino said the Division of Insurance recently accepted rate increases from private insurers.

“Basically, the concern is, by citizens and myself included, that the homeowners insurance rate filings by the private insurers get filed and are just allowed automatically,” she said.

Aschettino said a Senate panel commission investigation of the Division of Insurance was held a couple weeks ago on how they look at rate filings.

She said only two of the last 70 rate filings that have been submitted have been denied.

The National Association of Insurance Commissioners, which is a national organization that collects state insurance data, has reported that Massachusetts private homeowners insurance companies have had the highest profits in nine out of the last 10 years, according to Aschettino.

The first hearing was held in Lowell on Wednesday with other hearings scheduled for Amherst on October 26, Worcester on November 5, and Boston on November 17.

By BRIAN MERCHANT, CapeCod.com NewsCenter

Comments

  1. Thanks for this article. I found it very helpful. I will talk to my husband about these.

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