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The Boston Globe


Regulators reject home insurer’s proposal to hike rates

Massachusetts insurance regulators Friday rejected a request by FAIR Plan, the state’s home insurer of last resort, to raise its rates an average of 7.2 percent.

The FAIR Plan, officially called the Massachusetts Property Insurance Underwriters Association, had proposed raising home and condo insurance rates by 6.7 percent on the Cape and the Islands and 9.9 percent in several other areas, including New Bedford, Worcester, and Springfield.

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