Massachusetts Insurance Commissioner Julianne Bowler has postponed the second public hearing into changes to the state’s high risk sharing pool that was scheduled for today until Oct. 20.
The Division of Insurance notice said that concluded that “the scope of the revised proposal is such that, in order to permit thorough analysis by interested persons, it is appropriate to enlarge the date for the scheduled hearing in order to provide additional time for review.”
Commerce and Plymouth Rock Assurance had rquested the additional time.
The changes under consideration are intended to transform the current reinsurance facility for private passenger auto insurance that is run by Commonwealth Auto Reinsurers (CAR) into an assigned risk type plan known as Massachusetts Assigned Insurance Plan (MAIP).
Bowler asked CAR to revise its original set of MAIP rules and set a Sept. 24 deadline.
The CAR governing committee has held several special meetings to amend the rules to reflect Bowler’s requests.
Bowler has asked CAR to clarify the rules so that drivers with good driving records are not harmed by the changes in the residual market; adopt a so-called “Clean in Three” proposal, under which experienced drivers with no-fault accidents or moving violations in the most recent three years cannot be placed in the assigned risk plan; and introduce incentives that will encourage insurers to create new agencies in urban areas.
She also asked for tougher anti-fraud incentives and steps to reduce consumer confusion during any transition from CAR to the MAIP.
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