CAR Selects New Chairman and Vice Chairman at its Annual Meeting
A new Chair and Vice Chair of the Governing Committee was elected during the Commonwealth Automobile Reinsurers Annual Meeting last month. James S. Hyatt of the Arbella Insurance Group was unanimously elected as Chair of the Governing Committee with Thomas C. DePaulo of the Meridian Insurance Agency, LLC unanimously elected Vice Chair. Mr. Hyatt takes over the position from outgoing Governing Committee Chair, Mr. M. John Olivieri, Jr.
Upon being queried by Agency Checklists about his new appointment, Mr. Hyatt responded saying,
“I was honored to be selected as Chair of the CAR Governing Committee. CAR plays an important role in the Massachusetts residual auto market, and between the many CAR committees, CAR staff and agents, we have a tremendous group of dedicated people who work extremely well together. I look forward to working with all the stakeholders in the coming year.”
The new Governing Committee Chair
Mr. Hyatt is the Senior Vice President of Personal Lines at the Arbella Insurance Group. He first joined the Quincy-based insurer in 2010 as a Vice President of Personal Lines.
A well-regarded executive within the Massachusetts insurance industry, Mr. Hyatt has over 30 years’ experience in the Property & Casualty marketplace in the Commonwealth. Prior to joining Arbella, he held various executive positions with The Hanover and The Hartford. His career in the insurance industry first began in 1985 as a trainee for Chubb. Mr. Hyatt went on to spend 17 years with the insurer, eventually becoming the insurer’s SVP for North American Marketing.
In addition to his position as the new Chair of the CAR Governing Committee, Mr. Hyatt also sits on the Board of Directors of the Massachusetts Property Insurance Underwriting Association, is a member of University of Massachusetts Isenberg School’s Leadership Board and is a past Board of Directors member of The Insurance Library Association of Boston.
The entire roster of the 2016 members of the CAR Governing Committee
With the appointment of Mr. Hyatt and Mr. DePaulo, the following is a list of the current members of the CAR Governing Committee:
Governing Committee Members
|Mr. James S. Hyatt – Chair||Arbella Insurance Group|
|Mr. Thomas C. DePaulo–Vice Chair||Meridian Insurance Agency, LLC|
|Ms. Pamela L. Bodenstab-Krynicki||P. L. Krynicki Insurance Agency|
|Mr. Christopher Dupill||EM Freedman Insurance Agency, Inc.|
|Ms. Carroll M. Foley||The Hanover Insurance Company|
|Mr. Sumner D. Gilman||Economy Insurance Agency, Inc.|
|Ms. Paula W. Gold||Plymouth Rock Assurance Corporation|
|Mr. Thomas A. Harris||Quincy Mutual Group|
|Mr. Christopher Jarrard||GEICO|
|Mr. John V. Kelly||MAPFRE U.S.A. Corporation|
|Mr. M. John Olivieri, Jr.||J.K. Olivieri Insurance Agency, Inc.|
|Ms. Meredith M. Woodcock||Liberty Mutual Group|
The November Governing Committee Meeting
In addition to the new Governing Committee selections, the following are the additional issues and proposals that were discussed and voted on during the November Governing Committee meeting. Please note this information is reprinted here, courtesy of CAR. For more information, please consult the CAR website directly.
Counsel’s Report. On a unanimous vote, the Governing Committee approved the Limited Assignment Distribution Agreement between Pilgrim Insurance Company and the Privilege Underwriters Reciprocal Exchange (PURE).
Actuarial Committee. The Governing Committee unanimously approved the following modifications to Rule 21–General Provisions and Rule 29–Assignment Process of CAR’s Rules of Operation:
- Amendments to Rule 21–General Provisions extending the Clean-in-Three non-renewal provisions for an additional year to March 31, 2018 for those producers that did not have a voluntary contract or a brokerage agreement with any Member as of April 1, 2010 and did not subsequently receive a voluntary contract or brokerage agreement with a Member prior to November 16, 2016.
- Amendments to Rule 29 which reflect an increase in the value of the take-out credit factor to 2.0 for policies effective January 1, 2017 and subsequent, eliminate obsolete language and assure that Rule language reflects current practice. Note that it was the consensus of Committee that the April 1, 2016 and subsequent voluntary credit factors should be maintained for the April 1, 2017 credit offer.
The Committee recommended that the amended Rules be filed with the Division of Insurance. For further information,
reference Bulletin No. 1030.
Compliance and Operations Committee. The Governing Committee unanimously approved updates made to Chapter I–Overview, Chapter II–Servicing Carrier Appointment and Chapter III–Servicing Carrier Responsibilities of CAR’s Manual of Administrative Procedures. The updated chapters are available on the Manuals page of CAR’s website, under the Administrative Procedures link. For additional information, refer to Bulletin No. 1029.