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Insurance is an important business in Massachusetts and it has the largest insurance companies whose have their headquarters in Boston. Massachusetts insurance is responsible for regulating all types of insurance sold in the state of Massachusetts. All residents of Massachusetts obtain health insurance coverage either through their jobs or in the private market. Insurers in Massachusetts are not permitted to reject any application for coverage.Massachusetts children's Medical security Plan will offer health insurance coverage for the children under age 18 at at all income levels.

Massachusetts provides nearly free health care for residents earning less than the poverty line. Massachusetts health care reform law established a new quasi regulatory authority called Commonwealth insurance authority which offers the subsidized coverage and purchase of private insurance plans by individual and businessmen. The incentive for residents to obtain health coverage includes amount of an individual annual income tax personal tax exemption and this can be increased by monthly increments.

Massachusetts Mutual Life Insurance Company named as Mass mutual was founded in 1851 is mutually owned financial protection, accumulation and Income Management Company whose main headquarters is in Springfield, Massachusetts. This company provides Life insurance, Retirement plans, income management and other services for individual, businesses and institutional markets.

Mass Mutual affiliation includes Babson Capital Management LLC, MML investors' services, Real Estate advisors LLC, MML Bay State Life insurance company and C.M Life Insurance Company. Auto insurance company in Massachusetts will make payments for your injury claims regardless of any fault up to a specified limit.Massachusettes state law requires minimum personal injury protection coverage of $8000 which helps in paying reasonable medical expenses for you and your passengers. The average auto insurance premiums in Massachusetts was $1134 in 2003 and these rates are changing year after year if you are not careful about auto insurance.

Homeowner's insurance in Massachusetts protects your investment in case your home is damaged or destroyed. Massachusetts home insurance is important to accurately protect your possessions. To insure your home for the replacement cost will protect money needed to repair the damaged property. Massachusetts homeowner's insurance come in three forms; these are basic, broad and special. Basic homeowner's policy provides coverage against fire, smoke damage, by wind and damage caused by civil misconduct. Broad policy provides coverage for collapse of structure and damage to any home appliances. Special provides coverage from all perils. New England mutual insurance Company in Boston was the first mutual company to be chartered in US. Insurance business in Massachusetts includes the licensing of agents and brokers, all insurance companies are controlled by Division of insurance under executive office of consumer affairs.

In Massachusetts, Commerce is leading insurer of automobile business insuring nearly one out of four registered vehicles. All this business is done by independent insurance companies. This type of commerce automobile insurance saves an additional 15 % on their homeowner premiums. Standard Policy Form is used by all automobile insurers. It is developed by Commissioner and used by all companies. This policy covers personal injury losses, property damage liability coverage and coverage caused by uninsured motorists. The Premium rates of automobile insurance companies are determined by commissioner on annual basis. Commissioner sets a premiums rate for many different types of vehicle, various classes of drivers, thirty-three different geographic territories of Massachusetts. Safety insurance in Massachusetts actively participates in industry policy making organizations like Automobile Insurer Bureau and CAR.

Massachusetts provides COBRA, Consolidate Omnibus Budget Reconciliation Act of 1985, and it contains many companies with their employees. It offers health insurance to employees' ands their dependents with benefits or coverage. Medicaid in Massachusetts is a federal program that offers long term care services for low income pregnant women, children, disabled individuals and nursing residents.