Senate panel to examine homeowner insurance hikes
Sep. 20, 2015
BOSTON (AP) — A state Senate panel is examining recent hikes in homeowner insurance rates in Massachusetts.
The Senate Post Audit and Oversight Committee has called insurance company officials and state regulators to testify at a public hearing on Tuesday.
Sen. Michael Barrett, a Lexington Democrat who chairs the panel, says lawmakers will examine the state's process for setting rates and the fairness of the increases themselves.
Among the large property insurers that have received approval from the state Department of Insurance for rate hikes is Mapfre USA, the state's largest provider of homeowner insurance, which has increased rates by 8.9 percent. A senior official with Mapfre is expected to testify on Tuesday.