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 […]
MAIP
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 […]
