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Friday, June 12, 2009

Progressive Insurance to Pay Massachusetts $120,000

From The Boston Globe 5/27/09
Progressive Direct Insurance Co. agreed to pay the state of Massachusetts $120,000 to settle charges that it inflated the rates for rival companies, according to Attorney General Martha Coakley.

Specifically, Coakley's office accused Ohio-based Progressive, the nation's fourth-largest automobile insurer, of comparing its six-month rates to the 12-month rates offered by other companies. Progressive inaccurately listed all the rates on its website as six-month prices.

Progressive, which started offering policies in Massachusetts on May 1, 2008, stopped quoting rivals' rates on its website and through its call center late last year, and notified Coakley's office about the mistake.

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