Auto Insurance Rate Reduction for towns fighting fraud

A partial settlement of the annual automobile insurance rate setting proceedings will yield significant rate savings for key fraud fighting towns in Massachusetts, Attorney General Tom Reilly announced today.

The settlement will reward the City of Lawrence and the City of Boston for their recent fraud fighting efforts. These cities, as part of the CIFI program (Community Insurance Fraud Initiative), have worked with industry and law enforcement to aggressively target and pursue auto insurance fraud. Their efforts have helped greatly reduce fraud costs within the auto insurance system.

Under the settlement, rates for Lawrence on major compulsory auto insurance coverages drop 20% more than the state average rate change, and Boston rates will drop10% more than the statewide change.