CAR Language Adopted - Big Win for MAIA Members!
Last Thursday, Governor Baker signed the FY23 Budget. We are very pleased to report that MAIA’s language relative to the Commonwealth Automobile Reinsurers was included in the enacted budget. This language ensures appropriate agent representation on the CAR Governing Committee by removing the requirement that two seats be reserved exclusively for ERPs. For years these seats sat vacant due to this requirement, leaving agents with two less votes on important CAR matters. This change will ensure that the voice of independent agents is heard regarding the myriad issues relative to CAR business.
This is a tremendous victory for MAIA and its members. This result is literally years in the making and involved a coordinated and refreshed legislative strategy that engaged multiple stakeholders. In the end, this change will ensure that our members are appropriately represented on the CAR Governing Committee and are effectively able to weigh in on the countless issues facing the residual marketplace in Massachusetts.
A major thank you to our members for your commitment, outreach and critical financial support during this long legislative process that helped achieve this goal. Together we have the ability to influence public policy and achieve impressive results. The MAIA team is proud to fight on your behalf, and your membership and support make that possible.
The final language that was included can be found below.
Outside Section 79
Section 113H of chapter 175 of the General Laws, as so appearing, is hereby amended by striking out, in lines 98 to 102, inclusive, the words:- ", 2 of whom shall be producers who are assigned risk producers who write private passenger automobile insurance exclusively through the Massachusetts automobile assigned risk plan pursuant to the provisions of the plan approved under this section".