Insurance Journal has an initial summary of the first round of rate filings submitted for Massachusetts’ managed competition deregulation scheme:
According to rate filings submitted to the state by insurers on Nov. 19, from 70% to 80% of all drivers should see rate decreases beginning in April 2008 when the new managed competition system goes into effect. For the rest, rate hikes up to 10% are possible.
IJ summarizes the highlights of the top 10 carriers as follows:
| Company | Market Share | Avg Change |
| Commerce | 31.6% | -8.1% |
| Safety | 11.2% | -6.9% |
| Arbella | 9.3% | -6.2% |
| Liberty Mutual | 7.9% | -10.7% |
| Met Life | 6.9% | -5.0% |
| Premier (Travelers) | 6.6% | -6.0% |
| Plymouth Rock | 5.7% | -4.0% |
| Amica | 3.8% | -7.9% |
| Hanover | 3.6% | -7.5% |
| USAA | 2.6% | -15% |
The IJ article also includes highlights of what some of the new (to Massachusetts, anyway) discounts included in the filings are.
I haven’t seen anything yet about who will be seeing increases under the new algorithms, although those details will presumably be forthcoming. Of course, all this could change somewhat in a week, as amendments to the filings are allowed after insurers have a chance to look over their competitors’ filings.
What really interests me is the possibility for some entertaining debate if/when consumer advocates start comparing the average decreases above with information from prior state-mandated rate changes