Power Insurance Services

It seems the easy ride has ended for a dozen insurance companies as they’re being forced to send out refunds to Massachusetts motorcycle owners who got the short end of the stick on their premiums.

The state recently came to a settlement with five auto insurance companies after it found they overcharged motorbike owners tens of thousands of dollars for insurance.

The settlements mean motorcycle owners who were overcharged will be getting a total of $12.1 million in refunds from the five insurance companies. T

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Many insurance companies are using credit scores as a factor in their rating and underwriting processes. This has come under some scrutiny as of late, due to the current conditions of the economy. Many feel that due to economic hardship people’s credit scores may have suffered. And in light of the insurance companies using these scores as a factor in determining rates, customers will end up having to pay a great deal more than they would otherwise. A

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