AUGUSTA, Maine (AP) — Maine’s superintendent of insurance has ruled against an Ohio-based company’s request to increase car insurance rates for older residents based solely on age.
The Portland Press Herald reported (http://bit.ly/2aOXoAG ) Wednesday Eric Cioppa determined Progressive Corp.’s request would’ve impacted up to 65,000 policyholders in Maine and violated state insurance law that bars arbitrary age-based rate hikes.
Progressive had sought state approval for rate changes that would allow it to increase auto insurance premiums for older residents based on age.
A Progressive spokesman says the company won’t appeal. The company withdrew its request for a hearing on the proposal last month.
National Highway Traffic Safety Administration data shows Maine in 2012 and 2013 had the highest share of older drivers involved in fatal accidents in the country.
Information from: Portland Press Herald, http://www.pressherald.com
RECOMMENDED FOR YOU