To: email@example.com, Demetrius.Atsalis@mahouse.gov, firstname.lastname@example.org, email@example.com, firstname.lastname@example.org, email@example.com, firstname.lastname@example.org, email@example.com, Therese.Murray@state.ma.us, firstname.lastname@example.org, email@example.com
Sent: 4/23/2012 3:28:39 P.M. Eastern Daylight Time
Subj: MA Regulators should probe Liberty Mutual CEO'S pay- Globe
After reading the 3
recent Globe Articles on April 11, 18, 20, 2012 we have great concerns that the
Commissioner of Insurance, Joseph Murphy, is not doing his job to protect MA
consumers in insurance rate filings.
According to the Globe,
Liberty Mutual has received a $ 46.5 million tax break from the Commonwealth
for giving 600 jobs. Are we buying jobs these days? With cities and towns
around the state losing state revenue it is unconscionable to give a tax
break to a rich company like Liberty Mutual.
Liberty Mutual CEO Mr.
Kelly received a salary of about $ 50 million- a- year- for the past 4 years.
This payment is
grossly excessive and most likely raises premiums to policyholders.
I have a call in to the DOI to see how many rate hikes Liberty
Mutual received over the past 5 years.
Commissioner Murphy's comments
in the April 20th article stating " It's not our role to tell companies
how to run their business" is so wrong and an indication that he does not
believe the DOI has any responsibility in making sure consumers are not being
ripped off. No wonder we are seeing any progress with rates.
The MA DOI should
be denying rate filings from insurance companies who pay outrageous
salaries, add lobbying costs into the numbers and accrue any other excessive
The definition of an
insurance commissioner according to Blacks Law Dictionary is a : Public officer
in several of the states, whose duty is to supervise the business of
insurance as conducted in the state ----, for the protection and benefit of
policyholders,.... ( not insurance companies).
We are asking the MA DOI
to do an investigation into the past 5 years on any rate increases for
Liberty Mutual. If it is found that there have been excessive expenses added
into rate filings, we want a rebate for all policyholders.
We want proof that the
DOI has done this review and will ask the AG to investigate as well.
Policyholders in Mutual
Companies are " members"of the company. Were
policyholders aware of this kind of spending?
We are asking the
Governors Office for answers on who and why Liberty Mutual received a $
46.5 million Tax break from the Commonwealth. Where is the written
documents discussing this transaction?
Is this a political
We need your
help on these matters. Citizens are all done with sitting back, we want
answers especially before elections.
Citizens for Homeowners