Surviving Spouse and Trailer
*This question was answered based on current rules, regulations, and statutes in effect as of June 2024. Question I have an insured (surviving spouse) who would like to retain 2 of her husband’s trailers. I understand that the surviving spouse process cannot be used on trailers. The RMV is looking for an approval for plate…
Compulsory Limits – Senate Economic Development Bill
As you may be aware, MAIA’s legislative priority this year is to increase compulsory limits from 20/40/5 to 50/100/30. We have been successful in getting this language included in the Senate version of the Economic Development Bill – but it was not included in the House version. There is now a Conference Committee working through the…
2024 Q1 Massachusetts P&C Marketplace Summary
You are being provided this 2024 Q1 Quarterly P&C Marketplace Summary covering the Massachusetts Property and Casualty (P&C) Insurance Marketplace as a benefit of your membership with the Massachusetts Association of Insurance Agents (MAIA). Quarterly property and casualty (P&C) data reveals trends during the current year to give you, as members, a more “real time”…
Business Merged with Name Change
*This question was answered based on current rules, regulations, and statutes in effect as of June 2024. Question I have a commercial client who merged his business with another. The name has changed, but the FEIN has remained the same. The insured has one commercial auto insured by Safety under the name prior to the…
Traveling Nomad
*This question was answered based on current rules, regulations, and statutes in effect as of June 2024. Question We currently write an HO4 for an insured with MPIUA (due to claims). His legal residence is in Leominster, where he has some personal property. He also has some personal property in a storage unit in Leominster.…
Off Premises Power Loss and Resulting Power Surge
*This question was answered based on current rules, regulations, and statutes in effect as of May 2024. Question We have an insured that had a loss back in March from the last snow storm. A tree fell on a pole and caused a power surge to his house. The pole was off premise. Carrier is…
2024 Massachusetts Annual P&C Marketplace Summary
You are being provided this 2024 Massachusetts Annual P&C Marketplace Summary covering the Massachusetts property and casualty (P&C) insurance marketplace as a benefit of your membership in the Massachusetts Association of Insurance Agents. What follows is a graphic and numeric presentation of the Massachusetts P&C industry data from an Independent Agent’s perspective. The 2023 data…
LDW/CDW vs Hired Car Coverage on a BAP
June 24, 2024 Written By: Laura J. Poulin, AILP, AINS, AAM, CPIW, CRIS, MLIS, Director of Curriculum and Technical Affairs, MAIA In theory, Hired Car Liability, Symbol 8, and Hired Car Physical Damage should do the trick; however, typically, the rental contract makes the Insured responsible for things beyond what the Insurance will pay, making…
In-Law Apartment vs. Two-Family
*This question was answered based on current rules, regulations, and statutes in effect as of May 2024. Question Hope all is well – we are having a lively discussion in our office and can’t agree, so I said I will ask MAIA, “What is the difference between a one-family with an in-law apartment and a…
Earth Movement Exclusion & Blasting Operations
*This question was answered based on current rules, regulations & statutes in effect as of May 2024. Question We had an interesting call last week from a prospect. The individual lives near a quarry where blasting takes place on a regular basis. If the blasting causes any damage to his home or pool, would it…
2024 MAIA Advocacy Fund Contributors
We sincerely thank the following independent agents for contributing to the 2024 MAIA Advocacy Fund. Your contributions will directly support efforts to protect your business interests and ensure a fair legislative and regulatory environment. THANK YOU! A David Risman Insurance Agency, Inc. A J Marchionne Insurance Agcy Inc. Acacia Insurance Inc. Affordable Insurance Agency Inc.…
Garagekeepers vs. On-Hook Coverage
*This question was answered based on current rules, regulations & statutes in effect as of May 2024. Question If an Insured already has Garagekeepers Legal Liability coverage, does it also need On-Hook Coverage CA0402 or is On-Hook Coverage for a pure towing operation that does nothing more than pick up and deliver autos between other…
HO-3 Coverage
*This question was answered based on current rules, regulations & statutes in effect as of April 2024. Question Here’s a story and just trying to see if there is any chance of HO-3 coverage. Policyholders’ 9 yr old is visiting his 15 yr old cousin in Brockton (postage stamp lots). The older kid (that lives…
Trusts & the HO Policy
May 20, 2024 Written By: Irene Morrill, CPCU, CIC, ARM, CRM, CRIS, MLIS, LIA, CPIW – Consultant, Technical Affairs, MAIA An agent emailed saying his client had put their personal assets, including their home, into a trust, and the lawyer is requiring the HO 05 43 Residence Held in Trust endorsement to be added to…
MA Fair Plan
*This question was answered based on current rules, regulations & statutes in effect as of April 2024. Question I hope you are well! We quoted some MPIUA homes last week, and today, two were rejected because they said we didn’t use the new RCT info from 2/24. Coverage A went up over $300K on one!…
RTA Questions & Answers
*This question was answered based on current rules, regulations & statutes in effect as of April 2024. Questions & Answers A few questions have come up at our agency, and I was hoping you could help. If a dealership (non-drive) sells a vehicle, is that dealership responsible for completing the RTA? If it is a…
Lease Buyout and Plate Reassignment
*This question was answered based on current rules, regulations & statutes in effect as of April 2024. Question Quick question for you. I’ve noticed recently that the registry has allowed folks buying out their leases to keep the same plates. Can you tell me what we check off on the RTA to indicate this? Answers…
Loss Assessment
April 23, 2024 Written By: Laura J. Poulin, AILP, AINS, AAM, CPIW, CRIS, MLIS, Director of Curriculum and Technical Affairs, MAIA Which coverage does a unit owner need to purchase to cover an Association deductible – building Coverage A or loss assessment coverage? Let’s start with Loss Assessment coverage. There are three requirements to trigger…
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