The following are Bulletins that the Massachusetts Division of Insurance published in 2008. Click on the title of any one of the Bulletins to view the original document.
Bulletin 2008-01: Amendments Created by Chapter 205 of the Acts of 2007 Related to Eligibility as a Dependent in an Insured Health Plan
Issued to inform carriers of new provisions related to eligibility for a dependent in an insured health plan. Effective January 1, 2008, this Bulletin 2008-01 replaces the Division’s prior Bulletin 2007-01.
Issued to provide insurers with guidance regarding the Massachusetts Health Care Reform Law requirement that all Massachusetts residents eighteen years of age and older have health coverage that meets the Minimum Creditable Coverage standards as set by the Commonwealth Health Insurance Connector.
Issued to notify insurers that they must provide individuals eligible for Medicare with a copy of Massachusetts Bulletin for People with Medicare and the 2008 Guide to Health Insurance for People with Medicare.
Bulletin 2008-4: Filing Procedures for Compliance with the Provisions of the Terrorism Risk Insurance Program Reauthorization Act of 2007
Issued to inform insurers of certain provisions contained in the Terrorism Risk Insurance Program Re-authorization Act of 2007, an Act amending the Terrorism Risk Insurance Act of 2002.
Issued to notify insurers that rate and form filings submitted to comply with the federal Terrorism Risk Insurance Program Re-authorization Act of 2007 also must meet the Division’s filing and fee requirements for other property and casualty products.
Bulletin 2008-05: Distribution of Consumer Information Guides and Additional Policy Information Materials for Private Passenger Motor Vehicles Insurance Policies with Effective Dates on and after April 1, 2008
Issued to inform insurers about the Division’s distribution requirements related to certain consumer and policy information materials.
Bulletin 2008-06: Availability of Private Passenger Motor Vehicle Insurance Rate Filings for Public Inspection
Issued to inform all interested persons of the Division’s practices regarding the availability of private passenger motor vehicle insurance rate filings for public inspection.
Bulletin 2008-07: Requirements for Private Passenger Motor Vehicle Insurance Policies Issued for Terms of Six Months
Issued to provide guidance to insurance producers and companies regarding voluntary private passenger motor vehicle insurance policy endorsements limiting the coverage term to six consecutive months.
Bulletin 2008-08: Guidelines for the Submission of Form, Rate and Rule Filing Materials for Review by the Massachusetts Division of Insurance
Issued to advise rating organizations and carriers about the requirements governing the submission of form, rate, and/or rule filings for certain insurance products.
Bulletin 2008-09: Regulatory Review Standards Applicable to Private Passenger Motor Vehicle Insurance Rate Filings in the Residual Market for Rates Effective April 1, 2009 through March 31, 2010
Issued to advise insurers of the standards applicable to private passenger motor vehicle insurance rate filings for residual market policies submitted by Commonwealth Automobile Reinsurers (CAR).
Issued to notify insurance producers and insurers that Massachusetts law does not require the use of a particular form of notice of transfer when transferring insurance on private motor vehicles.
Bulletin 2008-11: Regulatory Review Standards Applicable to Private Passenger Motor Vehicle Insurance Rate Fillings in the Voluntary Market for Rates Effective April 1, 2009 through March 31, 2010
Issued to notify insurers of the standards governing the Commissioner of Insurance’s review of voluntary private passenger motor vehicle insurance rate filings for rates effective April 1, 2009 through March 31, 2010.
Bulletin 2008-12: Clarification of Coordination of Benefits under M.G.L. c. 90, §34A and the interrelationship by and among PIP, Health Insurance and Medical Payments
Issued to address the order for the coordination of benefits by and among Personal Injury Protection (PIP) coverage, Medical Payments (MedPay) coverage, and health coverage by a health insurance carrier for motor vehicle accident claimants. The Bulletin also discusses certain provisions of previously issued Division Bulletin 1990-02.
Bulletin 2008-13: Designation of “High-Theft Vehicles” and Prescribed Anti-Theft or Auto Recovery Devices
Issued to inform insurers in Massachusetts of the Commissioner’s designation of “high-theft vehicles” and anti-theft devices in accordance with her authority under M.G.L. c. 175, § 113H.
Issued to inform insurers of their obligations associated with the solicitation and replacement of life insurance and annuities. More specifically, the bulletin reminds such insurers of their legal obligation to ensure that policyholders of AIG life and annuity insurers are not subject to misleading or unsuitable replacement solicitations or sales.
Issued to inform insurers of the insurance match initiative available through the U.S. Department of Health and Human Services. The goal of the federal program is to identify those individuals who are delinquent in their child support payments before these individuals receive any insurance proceeds.
Issued to notify insurers of Chapter 214 of the Acts of 2008, An Act Increasing Coverage of Nonprescription Enteral Formulas, and the resulting increased mandated benefit coverage for low protein food products.
Bulletin 2008-17: Policy Placement Requirements for Private Passenger Motor Vehicle Insurance Policies with Effective Dates On or After April 1, 2009
Issued to inform insurers about requirements for policy placement among company affiliates within an insurer group or among risk categories within a single company for those private passenger motor vehicle insurance policies with effective dates on or after April 1, 2009. Such requirements are designed to promote fair and transparent business practices in both the voluntary and residual private passenger motor vehicle insurance markets.
Issued to inform insurers of filing guidelines under Chapter 230 of the Acts of 2008, An Act Relative to Equitable Coverage for Annuity Policies, and to clarify certain provisions of the new law. This new law requires insurers to calculate reserves on a gender neutral or gender blended basis. It also requires all individual and group annuity contracts issued on or after January 1, 2009 that cover residents of Massachusetts to be neutral as to race, color, religion, sex, marital status or national origin with regard to pricing and benefits.
Issued to inform rating organizations and insurance carriers of guidelines for the submission of fees associated with form, rate and rule materials filed with the Division of Insurance and to expand and clarify certain provisions of Division Bulletin 2008-08 issued on May 20, 2008, which governed a similar topic.
Issued to clarify the licensing requirements for insurance producers and companies marketing and selling variable life or annuity products, regardless of whether they are group or individual products. Specifically, the Bulletin notifies insurance producers and insurers that to be licensed to sell variable life and variable annuity products in the Commonwealth, and insurance producer must also: (1) have successfully passed a life insurance examination; (2) have successfully passed the FINRA (formerly NASD) Series 6 or Series 7 examinations; (3) be actively licensed and in good standing with FINRA; (4) must possess a valid FINRA Central Registration Depository (CRD) number; and (5) be affiliated with a registered broker/dealer who also is in good standing with FINRA.