Mass. Weighs FAIR Plan Property Insurance Rates

Massachusetts will begin public hearings next week on a request by the state’s property insurer of last resort to raise rates from 1.9 percent to 7 percent.

The hearings are set to begin Dec. 15 on the request by the Massachusetts Property Insurance Underwriting Association (MPIUA), also known as the FAIR Plan. The MPIUA is seeking overall rate increases for Homeowners Multi-Peril of 1.9 percent; for Dwelling Fire and Extended Coverage, 7.0 percent; and for Commercial Fire and Allied Lines 0.0 percent.

The proposed effective date for each filing is Dec. 31, 2009.

Latest Comments

• December 10, 2009 at 8:01 am

  Jane Logan says:

  The 1,050 page rate filing includes much more than rate changes. The filing includes a "Loss History Plan" to debit rates: 20% for filing 1 claim 30% for filing 2 claims 40% f... read more
• December 8, 2009 at 8:52 am

  GL GURU says:

  Oh give the "greedy insurer" rhetoric a rest. There is so much adverse selection, concentration of risk and supressed rates in MA on all fronts its hard to make a dime in this... read more
• December 7, 2009 at 3:57 am

  Cwiliy Agent says:

  Perhaps you should be looking somewhere else to improve your income and cash flow. You should reasses methods to insure homes. 100 year old+ 3 family home should not have to b... read more