Progressive already reduced the commercial motor vehicles rate increase it's requesting from 26.6 percent after the AG's office complained, but Coakley said a 23.5 percent hike is still not justified.
The Ohio-based company entered the Massachusetts market in 2007. According to the AG's office, it sold about $22 million in commercial auto insurance in the state and now holds about 3 percent of the market.
If the Massachusetts Division of Insurance accepts the new rate, it will go into effect on March 24.