Ira Kantor
bostonherald.com
Massachusetts - Bay State motorcycle owners will receive more
than $2.8 million in insurance refunds stemming from settlements with two
insurance companies that allegedly overcharged thousands of policyholders,
Attorney General Martha Coakley said today.
According to the two settlements, Encompass Insurance Co. of Massachusetts,
an Allstate subsidiary, and Amica Mutual Insurance Co. are alleged to have
illegally overcharged customers in the Commonwealth by using inflated and
un-depreciated motorcycle values to calculate insurance premiums.
The two carriers will also make civil payments to the Commonwealth, totalling $93,600, Coakley said. Both insurance companies are required to send out more than 10,000 refund checks before February, with an average check around $280.
The Attorney General's office said it has reached similar settlements with 15 other insurance companies since 2010, returning more than $42.8 million to Massachusetts customers.
The two carriers will also make civil payments to the Commonwealth, totalling $93,600, Coakley said. Both insurance companies are required to send out more than 10,000 refund checks before February, with an average check around $280.
The Attorney General's office said it has reached similar settlements with 15 other insurance companies since 2010, returning more than $42.8 million to Massachusetts customers.