Around the Region

Subcontractor insurance coop OK’d

The state Division of Insurance has certified the Associated Subcontractors of Massachusetts as a buying cooperative, enabling the trade group to offer health insurance from private carriers at lower rates for its member businesses.

The new ASM Health Insurance Coop, which will also offer a wellness program intended to improve health and cut down on future medical expenses, is the third purchasing cooperative approved by Massachusetts insurance regulators under a 2010 law signed by Governor Deval Patrick as part of a push to ease the burden of rising health care costs for small businesses.

In January, the insurance division certified the Retailers Association of Massachusetts and the Massachusetts Association of Chambers of Commerce Executives as buying cooperatives.

Robert Weisman