Making Insurance Available and More Affordable
The 2025 Massachusetts insurance market demonstrated the most choice for consumers in the last 20 years. In addition, the Division saved Massachusetts families and employers an estimated $260 million in insurance premiums:
- $80 million in savings for Massachusetts employers by rejecting a proposed 7.1% increase in workers’ compensation insurance.
- Protecting families and businesses from an additional $79 million in health insurance premiums while ensuring $75.6 million in rebates back to 350,000 individuals, families, and small businesses.
- Saving homeowners and drivers from approximately $24 million in added premiums.
The Massachusetts Insurance Market
As of December 31, 2025, there were 2,132 insurance companies licensed, authorized, or eligible to transact insurance business within the Commonwealth, including 39 new licensees in 2025. Of these entities, Massachusetts served as the domicile state and principal regulator for 137 insurance companies and related organizations. Moreover, the Division renewed or issued 201,480 producer licenses in 2025; Massachusetts continues to lead with the highest penetration rate of independent agents in the nation.
Breakdown of Domiciled Insurance Entities
| License Type | Number of Entities |
|---|---|
| Property and Casualty | 49 |
| Life, Accident & Sickness Insurers | 16 |
| Health Organizations / Insurers | 19 |
| Workers' Compensation Self-Insured Groups | 17 |
| Lodge Fraternal Benefit Associations | 29 |
| Title Insurers | 1 |
| Residual Market Pools | 6 |
| Fraternal Benefit & Mutual Aid Societies | 2 |
Five-Year Insurance Licensing Trends
| License Type | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| New Licenses Issued | 69 | 78 | 77 | 52 | 39 |
| Amended Licenses Approved | 25 | 23 | 17 | 9 | 10 |
New Pharmacy Benefit Manager Licenses
Pharmacy Benefit Managers (PBMs) are companies that work with health insurers to manage prescription drug benefits like formularies and pharmacy networks. In January 2025, Governor Healey signed into law Chapter 342 of the Acts of 2024, which provided the Division with new authority to license and regulate PBMs.
Starting January 1, 2026, all PBMs and entities seeking to operate as PBMs in the Commonwealth were required to submit an initial one-year license application to the Division, pursuant to M.G.L. 176Y and Bulletin 2025-04. The Division received 42 initial license applications. A full list of PBM licensees can be found on the Pharmacy Benefit Managers page.
Changes in the Insurance Market
Consumer protection is of primary importance to the Division and requires diligent oversight of insurers’ financial health and changes in the insurance marketplace. In 2025, the Commissioner oversaw 2 transactions by Massachusetts’ domestic insurers, and 3 companies already in receivership. A full list of public hearing decisions can be found on the Division of Insurance Public Hearing Decisions page.
Companies in Receivership
| Company Name | Date Commenced | Domicile/State | Status |
|---|---|---|---|
| American Mutual Liability Insurance Co. and American Mutual Insurance Company of Boston | 03/09/1989 | MA (Domestic) | Active Domestic Receivership - In Liquidation |
| Lumber Mutual Insurance Companies | 11/01/2000 | MA (Domestic) | Active Domestic Receivership - In Rehabilitation |
| Monarch Life Insurance Company | 06/09/1994 | MA (Domestic) | Active Domestic Receivership - In Rehabilitation |
Insurance Company Financial Data
Insurance Company Financial Data
Ensuring Insurance Companies Play Fair
In 2025, the Division conducted 27 detailed and focused financial examinations and completed or closed 14 market conduct and 47 market conduct analysis examinations. In addition, the Division reviewed 4,300 insurer rates and forms for compliance with consumer protection laws. This work included reviewing and disapproving a 7.1% increase in workers’ compensation rates, saving businesses and estimated $80 million. The Division’s Consumer Services Unit investigated and closed 2,167 consumer complaints in 2025.
Five-Year Completed Examination History
Breakdown of Top 10 Consumer Complaints by Topic
| Topic | Number of Complaints |
|---|---|
| Auto Cancelation | 346 |
| Auto Claim Delay | 349 |
| Auto Denial | 309 |
| Home Claim Denial | 216 |
| Health Denial | 185 |
| Health Delay | 170 |
| Auto Premium Increase | 143 |
| Auto Total Loss | 127 |
| Home Cancelation | 122 |
| Health COB | 113 |
The Division is proud of this record of achievement in 2025 and look forward to continuing this work in the future.
References
- Revenue collected from these assessments fund the operations of a number of agencies, including the Division of Insurance, the Registry of Motor Vehicle’s Merit Rating Board, the Department of Fire Services and various fraud-prevention programs in the Attorney General’s Office.
- NAIC Market Trends Report: Massachusetts