In a Summary Decision issued yesterday, the Massachusetts Division of Insurance Hearing Officer revoked all insurance producer licenses issued to James Timothy Shelnut in Massachusetts. The Division of Insurance also fined Mr. Shelnut $3,000 and prohibited him from directly or indirectly transacting or acquiring any insurance business in the Commonwealth of Massachusetts and that he […]
DOI News | Massachusetts Division of Insurance
News and updates from the Massachusetts Division of Insurance.
Mass. DOI Cautions Agents on Modifying Certificates of Insurance
The Massachusetts Division of Insurance issued a new bulletin today on the alleged abuses regarding Certificate of Insurances in order to highlight their purpose and correct use.
Proposed Amendment to Performance Standards for Payment & Handling of Private Passenger Motor Vehicle Claims
On Tuesday, March 8, 2011 at 10:00 a.m., the Massachusetts Division of Insurance will hold a hearing regarding the proposed amendments to the Performance Standards for the Handling and Payment of Private Passenger Claims by Servicing Carriers. Commonwealth Automobile Reinsurers or CAR adopted these standards on November 3, 2010. Pursuant to Massachusetts Insurance Law, the […]
Mass. DOI Issues Guidelines for Alien Unauthorized Insurers Wanting to Write Excess & Surplis Lines
The DOI issues guidelines for those alien insurers which to write insurance in the Commonwealth on an excess and surplus basis.
Alien Insurers Now Allowed to Write in Massachusetts Excess & Surplus Market
Last month President Barack Obama signed into law The Wall Street Reform Bill. The new law which overhauls the financial regulatory system in the U.S., has also created new opportunities for foreign insurers in the Commonwealth. Previously, the law governing the Massachusetts excess and surplus market did not allow alien insurers, or insurers formed and […]
