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AG pushes for 18 percent rate drop.(Business)
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The Boston Herald
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September 29, 2005
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Copyright informationCOPYRIGHT 2005 Boston Herald. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jay Fitzgerald
Battered by sky-high gasoline prices, Massachusetts motorists can at least look forward to an almost certain cut in their auto insurance rates next year.
Attorney General Tom Reilly today plans to ask for an 18 percent rate decrease - or $180 on an average annual auto policy premium - to reflect fewer claims and smaller losses recorded by insurers.
Insurance Commissioner Julie Bowler will make a final decision later this year.
But considering the industry itself has requested a 0.1 percent rate cut - or about $1 per policyholder - observers say it's all but inevitable some sort of major rate reduction is now in the offing.
"Families ...
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