BOSTON (SHNS) – Consumer advocacy team MASSPIRG is calling for a condition assessment of auto coverage premiums and losses, pointing to what it describes as soaring income for insurers in the course of the COVID-19 pandemic.
The team is inquiring Coverage Commissioner Gary Anderson to assure that drivers obtain “appropriate” refunds and quality reductions.
“When the pandemic hit, People began driving noticeably considerably less. Automobile insurance coverage companies benefited from lessened miles pushed and less crashes,” MASSPIRG legislative director Deirdre Cummings claimed in a assertion. “And because insurance coverage companies make money when they really do not have to spend for accidents and other claims, the pandemic improved their profits by tens of billions of dollars.”
Lots of insurers furnished some relief to individuals all through remain-at-dwelling orders and enterprise shutdowns in the spring and MASSPIRG stated its new overview located that 18 of 71 top insurance policies corporations returned at minimum 50 percent of one month’s premium, and 8 returned at minimum just one month’s quality.
Earlier this thirty day period, 12 associates of the Gateway Cities Legislative Caucus wrote to Anderson and questioned him to get that auto insurers supply a different round of top quality reduction in gentle of minimized travel and accidents.