Special Bulletin: MAIA’s Fair & Accurate Quotes Bill Becomes Law!

    Posted by MAIA on January 15, 2021

    We are happy to announce that key language from “An Act Relative to Fair and Accurate Motor Vehicle Insurance Quotes”, was incorporated into the Economic Development Bill that was signed yesterday by Governor Baker.

    MAIA proposed the Fair and Accurate Quotes Bill after fielding complaints from members who were losing business to direct writers due to unfair practices. While independent agents were required to run the driving record before binding an auto policy, others were not following that practice. A victory for MA consumers and independent agents alike, the new law will require every insurer doing business in MA to run the customer’s MA driving record before taking payment or issuing a policy. If a preliminary quote is provided without running the record – the agent or carrier must disclose this information to the consumer up front. This change is effective immediately, and will prevent deceptive bait and switch tactics from being utilized. 

    Thank you to the legislators who championed this bill, and the many people who supported this effort, especially Rep. Mike Finn, who sponsored the Bill; House Financial Services Chair Jamie Murphy; Senate Financial Services Chair Jim Welch; House Ways & Means Chair Aaron Michlewitz; Senate Economic Development Chair Eric Lesser; and Senate Ways & Means Chair Mike Rodrigues, who helped shepherd the amendment through the process. Thanks, too, to our outside lobbyists, Dennis Murphy and Anthony Abdelahad of Ventry Associates, and MAIA’s Legislative Committee Chair Rick Green and the entire committee.

    It is a win for us all!


     

    Topics: The Massachusetts Agent, Special Bulletin, COVID-19, 2021

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