At the April 20, 2011 CAR Governing Committee Meeting, CAR President Ralph Iannaco announced that three new carriers are now eligible for assignments through the MAIP, the Massachusetts Automobile Insurance Plan. Occidental Fire and Casualty, Geico and Bankers Standard Insurance Company are now eligible for assigned risk assignments through the MAIP. Both Occidental and Geico […]
CAR News | Commonwealth Automobile Reinsurers
News from the Commonwealth Automobile Reinsurers, or CAR, the statistical agent charged with overseeing the residual auto insurance marketplace in Massachusetts.
Sumner Gilman To Return to CAR Governing Committee
Sumner Gilman, President of Economy Insurance Agency, was tapped yesterday to become the newest member of Commonwealth Automobile Reinsurers Governing Committee. Commonwealth Automobile Reinsurers is the industry operated residual market and statistical agent for motor vehicle insurance in the Commonwealth. The Governing Committee is the body “…responsible for the administration of CAR, including the preparation […]
CAR Preliminary Sceening Committee Gets to Work
The Commonwealth Automobile Reinsurer’s website posted a special notice on Friday January 28, 2011 regarding its search for a new President after the announcement of current President, Ralph [Buddy] Iannaco’s retirement scheduled for later this year. “The Chairman of the Governing Committee, William Cahill, pursuant to M.G.L. 30A sec. 18-25, has determined that CAR’s ability […]
CAR’s President to Retire in June 2011
On January 14, 2011 the Commonwealth Automobile Reinsurer’s website announced the intent of longtime President, Ralph (Buddy) Iannaco, to retire effective June 30, 2011. According to the Insurance Library Association of Boston, Mr. Iannaco began his career in 1964 when he was named Secretary of the Board of Appeals in the Division of Insurance by […]
Governor Patrick Signs Assigned Risk Commission Bill Into Law
Governor Patrick has signed into law a bill granting producers in the Massachusetts Auto Insurance Plan (MAIP) commissions on assigned risk policies written voluntarily by assigned risk carriers. The signing of the bill overrules the Commissioner of Insurance’s decision not to allow producers these commissions and also reverses the Supreme Judicial Court decision that upheld […]
