Maine Superintendent of Insurance Eric Cioppa has denied an appeal from Progressive Insurance that sought to increase car insurance rates for Mainers who turn 65.
The company’s plan would have applied only to new customers, but Cioppa concluded that it would violate the state’s insurance code, which prohibits increases in rates based solely on a customer reaching a certain age.
Cioppa’s decision notes that Progressive’s requested rate hike would have affected as many as 65,000 policyholders in Maine.
The company can appeal the decision to the Superior Court.
