MPIUA aka MA Fair Plan may not have had a rate increase, but they managed to get the wind (not named storm or hurricane all wind) deductible increased from 1% to 2% on the mainland and from 2% to 5% on the islands. The wind deductible was NOT part of any rate filing or hearing. MPIUA manged to get the wind deductibles changed as a “rule change” leaving MPIUA with less exposure to wind losses and consumers with a higher wind deductible (less insurance) for just about the same premium.
In addition to the wind deductible percentage change, MPIUA applied the wind deductible to losses from the February Blizzard when clearly many of the downed tree limbs and trees resulted from the weight of ice and snow – now wind. There were many areas of Massachusetts and Cape Cod such as Plymouth and Sandwich where the weight of ice and snow brought down the trees-not wind.
MPIUA timed this latest filing to use the blizzard as a reason to increase rates at the same time their applying the wind deductible to claims resulting from the weight of ice and snow and the claims from that storm aren’t even close to being finalized.
MPIUA aka MA Fair Plan may not have had a rate increase, but they managed to get the wind (not named storm or hurricane all wind) deductible increased from 1% to 2% on the mainland and from 2% to 5% on the islands. The wind deductible was NOT part of any rate filing or hearing. MPIUA manged to get the wind deductibles changed as a “rule change” leaving MPIUA with less exposure to wind losses and consumers with a higher wind deductible (less insurance) for just about the same premium.
In addition to the wind deductible percentage change, MPIUA applied the wind deductible to losses from the February Blizzard when clearly many of the downed tree limbs and trees resulted from the weight of ice and snow – now wind. There were many areas of Massachusetts and Cape Cod such as Plymouth and Sandwich where the weight of ice and snow brought down the trees-not wind.
MPIUA timed this latest filing to use the blizzard as a reason to increase rates at the same time their applying the wind deductible to claims resulting from the weight of ice and snow and the claims from that storm aren’t even close to being finalized.
Anyone looking for consumer advocacy on this issue please go to this website: http://www.homeownersinsurancereform.org