Why doesn't massachusetts.....?
why doesn't mass or a few other states allow competitive insurance in their state, like geico, allstate, progressive, etc. It doesn't seem fair that i have to pay $3000 a year for insurance and i don't have many companies to choose from
- Anonymous1 decade agoFavorite Answer
It's not that they don't 'allow' these companies to do business in the state, the companies REFUSE to go there. 'The Peoples Republic of Massachusetts' has the very worst insurance-hostile attitude of any state in the union -- even California. They feel it necessary to induce so many inane regulations upon the insurers that it is impossible to make a profit. Couple this with the attitude of the citizens with their extremely liberal viewpoints (meaning that they feel like they are never at fault and always entitled to everything they demand from an insurance company no matter what the circumstance) and no insurer in their right mind will go there. Even giant State Farm threw in the towell after two tries -- constantly imbattled with the state insurance board and the governers office over rate increases and constant state regulation changes. So -- you all got what you voted for; a socialist state with 'senator-for-life Kennedy' and John 'I married into money' Kerry. I hope you are happy with each other.Source(s): Long time claims guy
- Kiffin # 1Lv 61 decade ago
If you don't like it, why not start a "grass roots" program to fight it? That's more productive than complaining... Maybe the Insurance Institute has put a lock on the various companies availability? Maybe the State Attorney General has been paid some extra funds? Who knows?
Take it to your Congressman and ask him/her (I'm sure Ted Kennedy will help - NOT!!!!!)...Try writing to various State agencies and question them as to the reasoning behind the lack of competition. Good luck!
- ~ Floridian``Lv 71 decade ago
States license insurers, only those are allowed to offer coverage in a given state. There should however be plenty of companies to create some competition.
- 1 decade ago
they've been working towards competitive insurance for a few years, most of the problem is the stages of changes and their time line. Massachusetts has been state regulated for rating for eons, to change the system will take a few more years. not even insurance producers like to jump through the hoops of their assigned carrier.Source(s): over 10yrs in insurance
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- 1 decade ago
They allow competition, but under such conditions that the insurance companies themselves refuse to register to sell in that state.