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.
Regulation & Compliance
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 […]
December 31st Deadline For Two Year Assigned Risk Exemption
The Massachusetts Commissioner of Insurance has given new auto insurance carriers until December 31, 2010 to obtain their two year assigned risk exemption. After Massachusetts changed to a competitive rating of personal lines automobile insurance on April 1, 2008, the Commissioner of Insurance issued new regulations to induce new automobile insurance carriers to enter the […]
