CAR Outlines Proposed Changes to the Rules of Operation

    Posted by MAIA on November 26, 2018

    The Governing Committee of Commonwealth Automobile Reinsurers (CAR) has approved proposed changes to the Rules of Operation to go to the Division of Insurance for final approval.  Rule 29 – Assignment Process is looking at the classification/territory combinations eligible for MAIP quota share credit.  The residual market has decreased steadily from 2.71% market share as of August 2012 to 1.25% as of August 2018.  The proposed change will tamper the decrease to credit factors over a five-year period in cells where credit eligibility would otherwise be eliminated. There will be quarterly monitoring to study the impact to consumers and producers in those territories of concern. Click the link to read the full text of CAR’s November 26 announcement:  Bulletin No. 1067:  Proposed Changes to The Rules of Operation


     

    thank_you_partners_2018_email

    Topics: The Massachusetts Agent

    Keep Reading!

    Previous Publication DOI Issues New FAQs for Property Claims Related to Merrimack Valley Gas Explosions
    Next Publication MA RMV Recruits Focus Group For New ATLAS Program

    CONTACT MAIA

    *Denotes required field.