East News
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Mass. to Hear FAIR Plan Bid for 13% Statewide, 25% Cape Rate Hike
East News • April 26, 2007
Massachusetts Insurance Commissioner Nonnie Burnes has scheduled a public hearing for April 27, to consider a rate increase for the Massachusetts Property Insurance Underwriting Association, also ...
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| Subject | Posted By | Posted On |
|---|---|---|
| RE: let them pay their fair share | Mike | May 24, 2007, 2:34 pm |
| RE: RE: let them pay their fair share | geoff | May 8, 2007, 2:51 pm |
| RE: let them pay their fair share | Jeannette | Apr 27, 2007, 7:33 am |
| let them pay their fair share | Bill | Apr 27, 2007, 6:34 am |
| RE: MA FAIR Plan Rate Hearing 4/27/07 | Nancy | Apr 26, 2007, 2:33 pm |
| MA FAIR Plan Rate Hearing 4/27/07 | Jane Logan | Apr 26, 2007, 7:39 am |
| Back to article | ||
Subject: MA FAIR Plan Rate Hearing 4/27/07
Division of Insurance to FAIR Plan:
Are you willing to provide the information "redacted" from the 3,200 page rate filing in order to allow independent reivew and verification of the data?
FAIR Plan:
No, it's proprietory information owned by RMS and AIR-not the FAIR Plan.
Division of Insurance:
Without the hurricane modeling data used to develop rates the Division of Insurance is unable to comply with MA General Law requiring the Commissioner of Insurance to determine if rates are adequate and not excessive-rate increase request denied.
I have a copy of the 3,200 rate filing on CD and the type and amount of key material "redacted" is astounding.
The FAIR Plan did not provide enough data for the Division of Insurance to determine if rates are adequate or excessive-a basic funtion of the Division!
I'm looking forward to attending tomorrow's hearing!
- Jane Logan, CPCU
Citizens for HO Ins Reform
Cape Cod, MA