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
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.
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 […]
