CAR’s Annual Meeting and Governing Committee meeting are scheduled for the same day
Each year, the Commonwealth Automobile Reinsurers or “CAR” as it is known to most insurance professionals in Massachusetts, is required to hold an Annual Meeting pursuant to the procedures provided for in Rules 4.C.1 and 24.C. 1 of the CAR Rules of Operation. The following is an excerpt of those Rules provided courtesy of CAR:
the Governing Committee shall hold an Annual Meeting in conjunction with the Annual Meeting of the Members and shall report a summary of the previous fiscal year’s activities at that time.
Rules 3.B.1. and 23.A.9. provide that:
there shall be an Annual Meeting of the Members of CAR and the MAIP, which shall be held within 75 days of the end of the fiscal year at such time and place as isdetermined by the Governing Committee and specified in the notice of meeting.
In accordance with these, CAR’s Annual Meeting has been scheduled for this Wednesday, November 12, 2014 at 10:00AM. The location of the meeting will be at CAR’s offices located at 225 Franklin Street, Boston, Massachusetts. Immediately thereafter, the scheduled November Meeting of the CAR Governing Committee will take place in the same location at 10:30AM
The Governing Committee Chairman and Vice Chairman are selected during the Annual Meeting
In addition to approving the Annual Report for Commonwealth Automobile Reinsurers, the Annual Meeting is also when the Chairman and Vice Chairman of the Governing Committee are elected. The current Chairman is M. John Olivieri of the J.K. Olivieri Insurance Agency, Inc. while the Vice Chairman is David H. Cochrane of MAPFRE U.S.A. Corporation (formerly known as Commerce). Here is some information on the selection as outlined in Rule 4.C.1 of the CAR Rules of Operation:
“1. To select at its Annual Meeting a Chairman and Vice-Chairman of the Committee in accordance with the following procedures:
The position of Chairman and Vice-Chairman shall be rotated annually between those chosen from insurance companies and those chosen from producers of insurance, except that the Committee may elect an incumbent Chairman and/or an incumbent Vice-Chairman to a second one-year term or, if the incumbent has served for less than a full year, to one new term of one year, regardless of his predecessor. At no time shall the Chairman and Vice-Chairman both be insurer members or both producer members of the Committee. No individual may serve more than two consecutive terms as Chairman of the Committee. In the event the Chairman is unable to complete his term, the Vice Chairman shall become Chairman, at which time the Committee shall elect a new Vice Chairman…”
Who are the current members of the CAR Governing Committee
The following is a list of the current members of the CAR Governing Committee as of July 1, 2014:
Governing Committee Members
|Mr. M. John Olivieri, Jr. – Chairman||J.K. Olivieri Insurance Agency, Inc.|
|Mr. David H. Cochrane – Vice Chairman||MAPFRE U.S.A. Corporation|
|Mr. Paolo V. Abelli||Liberty Mutual Group|
|Mr. William J. Cahill, Jr.||The Hanover Insurance Company|
|Mr. Thomas C. DePaulo||Meridian Insurance Agency, LLC|
|Mr. Christopher Dupill||EM Freedman Insurance Agency, Inc.|
|Mr. Sumner D. Gilman||Economy Insurance Agency, Inc.|
|Ms. Paula W. Gold||Plymouth Rock Assurance Corporation|
|Mr. James S. Hyatt||Arbella Insurance Group|
|Mr. Christopher Jarrard||GEICO|
|Mr. Joseph P. Leahy, Jr.||Leahy & Brown Insurance and Realty|
|Ms. Marie Armel Theodat||R. Theodat Insurance Agency, Inc.|
|Mr. John P. Tierney||Quincy Mutual Group|
Other CAR News
In addition to the meetings scheduled this week, CAR also recently issued the following Executive Update on November 7, 2014. To get more information on these updates please continue on to the CAR website here.
Statistical Plan Changes Promulgated
The Division of Insurance has promulgated modifications to the Private Passenger Statistical Plan for policies effective July 1, 2015 and subsequent years.
Updates Made to CAR Manuals and Form
The Assigned Risk Producer Procedures Manual, the Manual of Administrative Procedures and the Request for Review/Relief Form have been updated.
Decision on Proposed Changes to CAR Rules
The Division of Insurance approved modifications to Rules 1-20, 30, 31 and 40 on October 17 and 24, 2014.