Projo Biz Blog

The decision by Governor Patrick to introduce competition on auto insurance has spurred another major insurer to seek entry into Massachusetts, moves that could lower premiums for Bay State drivers.

Today, Allstate Insurance Co. became the latest insurer to announce it wants to start selling policies in Massachusetts -- at least the ninth since the Patrick administration introduced a competitive auto insurance system to the state a year ago. The system allows companies to set their own rates; insurance rates were largely set by the state under the former system.

In March, Geico, the nation's third-largest auto insurer, announced it would start selling policies in the state.

Allstate is the nation's largest publicly traded insurer. The move to sell insurance in Massachusetts marks a re-entry into the state for the Northbrook, Ill., company. The company said it expects to begin selling auto insurance in Massachusetts by Nov. 2.

 Tags  Allstate auto insurance Massachusetts

---