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 […]
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Massachusetts Attorney General Opposes Progressive’s Rate Hike Proposal for Commercial Vehicles
The Attorney General of Massachusetts, Martha Coakley, has made it clear that her office is opposing Progressive Insurance Company’s rate increase of 23.5% for its commercial auto insurance in the Commonwealth. In a letter sent to the Massachusetts Division of Insurance, Attorney General Coakley asked that agency to reject the Progressive Insurance Company’s planned rate […]
CAR Preliminary Sceening Committee Gets to Work
The Commonwealth Automobile Reinsurer’s website posted a special notice on Friday January 28, 2011 regarding its search for a new President after the announcement of current President, Ralph [Buddy] Iannaco’s retirement scheduled for later this year. “The Chairman of the Governing Committee, William Cahill, pursuant to M.G.L. 30A sec. 18-25, has determined that CAR’s ability […]
Waltham Man Indicted on Fraudulent Unemployment and Insurance Claims Totalling $40,000
The Attorney General’s office announced on Friday that John Toyias, age 45, of Waltham, MA was charged with 55 counts of Unemployment Fraud, two counts of Motor Vehicle Insurance Fraud, two counts of Larceny over $250 and Attempted Larceny. Attorney General Coakley said that, “Insurance and unemployment fraud are serious crimes that lead to a […]
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 […]
