2023 Q2 Massachusetts Quarterly P & C Marketplace Summary
You are being provided this 2023 Q2 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). Takeaways from the 2023-Q2 Summaries: • The data shows market conditions in Q2 are firming, as we read and hear about…
Disability Tax Exemption
*This question was answered based on current rules, regulations & statutes in effect as of July 2023. Question I hope all is well with you. I have a friend that I am trying to help out as her dad’s insurance person is not helpful with a question she has. I am hoping you can assist…
Special Mobility Equipment
*This question was answered based on current rules, regulations & statutes in effect as of July 2023. Question I saw today’s question and answer. In regard to employees who use their vehicle as part of their job – my thinking was that their vehicle didn’t need to be a class 30. It is not THEIR…
MA Auto and Total Loss
*This question was answered based on current rules, regulations & statutes in effect as of July 2023. Question I have a MA carrier, written through MAIP, who is advising that ACV is not the same as replacement value on a totaled vehicle, with the same like, kind, and quality. I’ve never had a carrier respond…
Registration vs. Coverage Start Date
*This question was answered based on current rules, regulations & statutes in effect as of July 2023. Question I have a kind of silly question regarding registering your car and when coverage beginnings. Does coverage start when the vehicle is registered or starts on the date of purchase? For endorsement purposes, do we add a…
In Auto Insurance – When Does Insurance Start?
August 22, 2023 Written By: Irene Morrill, CPCU, CIC, ARM, CRM, CRIS, MLIS, LIA, CPIW – Vice President of Technical Affairs, MAIA Over the last few months, there have been a few email issues about when auto insurance becomes effective and what happens when the insured doesn’t get the plate “in a timely fashion.” One…
Company Manager Rosters & Bulk Registration
With our new system, we want to ensure your agency is set up correctly! Company Managers can update company information (address, phone, website, etc.), add and/or remove employees, and register anyone for classes or our Big Event! If you are listed as a Company Manager for your agency, please log in to your account here and review your company…
Where to Locate Number One Insurance on MAIA’s New Website!
Follow the instructions here to locate Number One Insurance Agency webpages, applications, and additional information you need to serve your agency! Find helpful information, including: Coverage for Your Agency Coverage for Your Clients Big “I” Markets – IIABA’s Online Markets Platform Broker Sign-Up & Support – Sign-Up or Update Your Agency’s Info
Update Your MAIA Member Account
Please update your MAIA member profile by following these instructions to ensure we can communicate with you effectively. Your information must always be accurate and up-to-date so we can better serve you, your staff, and your clients with your MAIA membership. View the complete step-by-step guide here.
Coverage for Autos with Handicap Equipment and Drivers
*This question was answered based on current rules, regulations & statutes in effect as of June 2023. Question We had an inquiry about where to go on coverage. I believe we would need to write a ceded commercial auto policy as I do not believe it would qualify for Mass personal auto. Can I get…
Removable Equipment
*This question was answered based on current rules, regulations & statutes in effect as of June 2023. Question Being a Jeep owner myself, I’m not sure why my brain never chewed this one around before, but it came up with a customer, so I wanted to be sure – Wranglers have doors and a roof…
Canadian Vehicles
*This question was answered based on current rules, regulations & statutes in effect as of June 2023. Question We had an insured come in with a vehicle that was gifted to him from his parents in Canada. Do you know what we need to do to get it registered in Massachusetts? Thanks! Answer Kathy Cormier:…
Drones
*This question was answered based on current rules, regulations & statutes in effect as of June 2023. Question Hope all is well. I was browsing through your Tech Talks, looking to see if you did one on Drones. I tried to search by Drones, and nothing came up. If you did one, will you please…
Every Business Has an Auto Exposure, Whether They Own an Auto or Not
June 20, 2023 Written By: Irene Morrill, CPCU, CIC, ARM, CRM, CRIS, MLIS, LIA, CPIW – Vice President of Technical Affairs, MAIA Happy …rainy July – a great month if one is a duck! Yet another agent email question seemed like a good tech talk, so here goes. Agent Question: We insure a body shop,…
Business Use MA Auto Coverage
*This question was answered based on current rules, regulations & statutes in effect as of May 2023. Question Someone on my CL team reached out regarding a large account that they handle. They have a CL auto, and there are several employees that use their personal autos for business use. The CL auto policy contains…
Stolen Vehicle
*This question was answered based on current rules, regulations & statutes in effect as of June 2023. Question One of our customers has property damage from a claim with a Geico insured during the accident…the driver (unknown) left the scene of the accident, and the owner of the vehicle reported the vehicle stolen. Geico claims…
Collision Coverage Question
*This question was answered based on current rules, regulations & statutes in effect as of May 2023. Question A scenario came up today in our team meeting that we had a different opinion on, and I’m hoping you might be able to assist. The insured owns a 2008 Toyota SUV, which was involved in an…
Motorhome Owned by a Business
*This question was answered based on current rules, regulations & statutes in effect as of June 2023. Question I received a voicemail from a member. She had a business customer who purchased a $600K RV in the name of the business. The owner of the business plans on “Living” in the RV. The commercial carrier…