Homeowners question post-winter insurance rate increases
Home insurance rates have jumped as high as 9 percent this year. According to The Boston Globe, insurance companies blamed excessive claims from this past winter. But homeowners and elected officials aren’t so sure.
For the first time, the Massachusetts Division of Insurance will hold sessions to explain the rate hikes, the Globe reports.
The state Senate has begun looking into the why regulators allowed large insurance companies to increase rates by a much higher number than usual. Attorney General Maura Healey’s office is also examining the evidence, according to the Globe.
A spokesman for state insurance regulators said they did their part in ensuring rate requests were not “excessive, inadequate, unreasonable, or discriminatory.’’
Read the full story at the Globe.
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