Sell to Geico auto insurance in the Bay State

 

Tuesday, Mar 24,2009, 11:51:32 AM   Click:

Boston Herald
Published: Friday 20 March 2009

A CarInsurance.com Customer Said:
You are one of the best companies I have ever dealt with in customer service!

Ellen G.
Miami, FL
By JAY FITZGERALD

Massachusetts residents better prepare for an avalanche of advertisements Geico lizard come their way.

The giant insurer owned by Warren Buffett's Berkshire Hathaway, has officially filed yesterday to sell automobile insurance in Massachusetts, the last company to enter the insurance market here recently deregulated.

Geico, which said it was the third largest auto insurer in the country, asked to sell the policy May 18, pending approval by the Insurance Commissioner Nonnie Burnes.

Burns - who led the Patrick Administration's new "managed competition" system, despite some criticism that it is unfair - seems pleased that Geico has applied.

"This is further evidence that competition is administered to more choice in terms of cost, coverage and companies to Massachusetts consumers," Burnes said in a statement. "Massachusetts consumers are reaping the benefits of the reform of the automobile insurance. "

Geico is the eighth overall insurer to enter Massachusetts since market deregulation began in April, but it is the second major out-of-state insurer seeking to do business here, after its archrival, Progressive Insurance, jumped on the market last year.

A spokesman for Arbella Insurance Quincy served notice yesterday that Arbella was not pleased that Geico, like other new insurers in the market, is offered an exemption from two years to participate in the 'risk assigned pool.

Under the terms of the pool and high-risk, bad drivers who can not find auto insurance are assigned to a carrier. Arbella insurance and agents have continued the state on the newcomer exceptions.

Doug Bailey, Arbella a spokeswoman, said that the exemption is a form of "treatment", while the administration of other States does the same thing for new insurers.

Geico, the Maryland-based Government Employees Insurance Co. is popularly known, has struck gold of television ads featuring a lizard green gecko word spoken in a Cockney accent. He also managed the advertising involving politically correct Cavemen excited and celebrities speaking on behalf of clients.

Originally published by Jay Fitzgerald.

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