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Bay State cuts auto insurance
Massachusetts Insurance Commissioner John G. Ryan announces a 3.7 million cut in automobile insurance rates for 1974 due to gasoline shortages. Expected savings range from 2 to 5 dollars per motorist per year, with cuts mainly in medical payments and uninsured motorists coverage. He rejected industry demands for higher rates and urged motorists to curb costs by avoiding full comprehensive coverage on older cars and watching for expensive options.
MENTIONED IN THIS ARTICLE
Boston
API
Massachusetts
John G. Ryan
Ryan
Francis W. Sargent
Sargent
Insurance Industry