In Battle Over Rate Hikes, Who Really Wins?

In this guest post, Bill Randell, an insurance broker based in Worcester, says the recent tug-of-war over rate hikes between insurers and regulators didn’t actually change much. What’s needed, he argues, are fundamental (and controversial) fixes to the system:

Now that all major carriers, except Fallon, have settled rates with the Division of Insurance (DOI) in the 1-50 employee market, what did all of this accomplish?

On average we have seen approximately a 1% reduction between rates originally submitted and rejected, Continue reading