CAR has announced that the next Governing Committee meeting will be held on June 20, 2012 at 10:00am. Among topics to be presented at the meeting is the Loss Reserving Committee’s Report highlighting the results from Fiscal Year 2012 Audit.
In other news, in May 25, 2012, CAR filed its proposal for the Massachusetts private passenger residual market rates with the Division of Insurance. October 1, 2012 is the proposed effective date. The filing also includes an estimate of an overall rate increase of 8.7 percent.
As of June 1st, the 2012 Private Passenger Residual Market Rate Filings are available upon request. Requests should be directed to Mr. Timothy Galligan at CAR. The final rates will be posted to CAR’s website when they are placed on file by the Division of Insurance.