Bulletin 2024-06 Re: Inducements, Rebates, & Affiliated Entities
The DOI has released Bulletin 2024-06 regarding the Massachusetts anti-rebating law. We believe this language clarifies that certain lender practices are, in fact, rebating. We will be contacting these entities again, referencing this bulletin, and asking that they change their current practices. View Bulletin 2024-06 here.
Compulsory Limits Bill – We Need Your Help!
MAIA is asking for your help in advancing our priority legislation this session: SB606/HB1006, “An Act relative to the compulsory automobile insurance limits,” filed by Senator Brendan Crighton and Rep. Michael Finn. The bill would increase the compulsory bodily injury limit for injury or death to one person from $20,000 to $50,000 and the limit…
Out-of-State Resident Temporary Plates – WIN for MAIA Members!
Last year, the Commonwealth enacted legislation allowing the RMV to issue temporary license plates to out-of-state consumers who purchase a vehicle in Massachusetts and want to drive their new car off the lot and to their home state for registration. MAIA successfully lobbied to include a provision in that legislation requiring out-of-state consumers to comply…
MAIA’s Opposition to HB1077
Last Tuesday (10/3/23), MAIA CEO Nick Fyntrilakis was on Beacon Hill to testify before the Massachusetts Legislature’s Joint Committee on Financial Services. Nick’s testimony focused on MAIA’s opposition to HB1077, “An Act relative to insurance company rebates.” This bill would lift the state’s prohibition on rebating and allow companies to offer a broad array of products or services related to loss…
Joint Committee on Financial Services Hearing Summary
MAIA President & CEO Nick Fyntrilakis testified at the Joint Committee on Financial Services Hearing at the State House in Boston on Monday, May 8th. His testimony focused on MAIA’s priority legislation this session; HB1006/SB606, “An Act relative to the compulsory automobile insurance limits,” filed by State Rep. Finn / State Sen. Crighton). Read MAIA’s…
2023 MAIA Advocacy Fund
As a valued member of MAIA, you can rest assured that you have a dedicated team of advocates working tirelessly on your behalf. We understand the challenges that regulatory and legislative issues can pose to your business, and we are committed to achieving results that benefit you. With your help, we can continue to make…
MAIA Visits Congressional Delegation in DC
Last week, we met with our Congressional Delegation to discuss numerous issues at the Big “I” Legislative Conference. We discussed priorities impacting independent agents, including small business tax fairness, reauthorization of the National Flood Insurance Program (NFIP), and concerns regarding the Federal Trade Commission’s (FTC) Non-Compete proposal. Read the complete Issue Summary here.
Big ‘I’ Testifies Before Congress on NFIP Funding, Potential Reforms
IIABA (the Big “I”) testified at a hearing before the U.S. House Financial Services Subcommittee on Housing and Insurance entitled “How Do We Encourage Greater Flood Insurance in America?” Chris Heidrick, CPCU, ANFI, CFP®, owner and principal of Heidrick & Company Insurance and Risk Management Services in Sanibel, Florida, and former chair of the Big…
Get Involved! Ask Your Legislator to Co-Sponsor MAIA’S Priority Legislation!
Our priority legislation HD3359/SD650, “An Act relative to the compulsory automobile insurance limits,” has been filed by Representative Michael Finn (D-West Springfield) and Senator Brendan Crighton (D-Lynn). This bill would increase the compulsory bodily injury insurance limit for injury or death to one person from $20,000 to $50,000 and the limit for any one accident from $40,000 to…
CAR – Bulletin No. 1150 – Private Passenger Residual Market Modifications to Manual Rules Approved
On February 22, 2023, the Division of Insurance placed on file modifications to the Private Passenger Residual Market Automobile Insurance Manual effective May 1, 2023. Amendments to Rule 27 – Private Passenger Definition. Read the full update here.
CAR – Bulletin No. 1149 – Electronic MAIP Stamp
CAR is pleased to announce the implementation of an electronic stamp (E-Stamp) for use on registration and insurance certifications for MAIP policies. On March 1st, agents can log in to their MAIP account for complete instructions on how to use the electronic stamp. Read the full update here.
Massachusetts Legislative Update
We are pleased to report that the 2023-24 Legislative Session has kicked off with the swearing-in of all 200 State Representatives and Senators, including 26 new Legislators and a new Governor, Lieutenant Governor, Attorney General, and State Auditor. Last Friday marked the legislature’s bill filing deadline, with over six thousand bills filed for the session.…
A Year of New Heights for InsurPac!
With the help of your contribution to InsurPac, Massachusetts ranked 4th in total donations for the year 2022. The total contributions for Massachusetts were $65,155! Of this amount, $7,700 came from our Young Agents – ranking them 6th among all contributing states and achieving their InsurPac goal for 2022! InsurPac finished with $1,269,794.59 in receipts. That total…
IIAHC/NAIFA Annual Legislative Breakfast
State Senators John Velis and Jake Oliveira, State Representatives Mike Finn and Aaron Saunders, and other legislative staff with members of the Independent Insurance Agents of Hampden County, MAIA President, and CEO Nick Fyntrilakis, and MAIA Lobbyists Dennis Murphy and Anthony Abdelahad, at the IIAHC/NAIFA Annual Legislative Breakfast in Springfield.
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…
2022 MAIA Advocacy Fund Supporters
MAIA would like to say a huge THANK YOU to our growing list of donors! Your support is essential in allowing MAIA’s Advocacy Team to voice your concerns to the Massachusetts legislators and regulators who impact your livelihood. If you have not yet had a chance to do so, please consider a contribution of at least…
MAIA State Legislative Update
As we head down the homestretch of the 2021 – 2022 legislative calendar we want to give MAIA’s members an update on what’s been happening on Beacon Hill. The legislature is now in the second year of the 2-year session, with formal sessions scheduled to end on July 31, 2022. That leaves six short months to…
MAIA State Legislative Update – November 2021
A key benefit of your MAIA membership is having a strong team of advocates fighting for or against legislative and regulatory bills, proposals, and changes that affect our industry and your livelihood. MAIA has built strong relationships and garnered great respect over the years, giving us authority and influence that would not be possible for individual…
New Health Insurance Compensation Disclosure Requirements
Effective on December 27, 2021, recently enacted requirements will have a significant impact on health insurance producers and consultants, and require them to disclose their compensation and other information to group health plan sponsors. In addition, health issuers will be required to disclose to individual health insureds the compensation paid to the agent or broker…
InsurPAC: It’s the Reason Independent Agents Have Clout on Capitol Hill
As the largest property-casualty insurance industry political action committee in the nation, the non-partisan InsurPAC is the political voice of the 23,000 Big “I” member agencies and 300,000 agents and brokers nationwide. Your InsurPAC contribution will help elect federal political candidates who support our industry, increase agent visibility on Capitol Hill, and empower members to participate…
InsurPAC Dollars at Work Fighting Proposed Tax Increases for Big “I” Members
Last week, the U.S. House Ways and Means Committee released a summary of tax provisions, several of which could mean steep tax increases for pass-through businesses. Backed by InsurPAC dollars, the Big “I” Government Affairs team continues to advocate on behalf of independent agents and brokers, strongly opposing any attempts to increase taxes on Big “I”…
CAR Votes to Raise Agent Commissions for Taxi, Limousine & Car Service Classifications
Another “pocketbook win” win for MA agents! The Governing Committee of the Commonwealth Automobile Reinsurers (CAR) has voted to raise and set the agents’ commission rate for the Taxi, Limousine and Car Service classifications to 8.34% of premium! This will be a significant increase from the 2020 rate year commissions, which were just 2.37% of…
MAIA Joins MA Business Coalition to Help Address Skills/Talent Gap
We are pleased to announce that MAIA has joined the Massachusetts Business Coalition on Skills (MBCS). The MCBS is a partnership of MA chambers of commerce and business associations, whose goal is to originate and advocate for statewide policies to ensure that every MA resident can acquire the skills needed to thrive in their careers,…
We Hear Your Registry Concerns and We’re On It!
Many members have contacted MAIA to express frustration with the COVID-related changes at RMV service centers. Common complaints include agents/runners having to travel unreasonable distances to designated drop-off centers; not being able to process live transactions and review documentation; inaccurate pickup notifications; and the return to the 7-day transfer law when the RMV system cannot…
Massachusetts One of Top 3 State Contributors to InsurPac
MAIA extends a huge thank you to all from Massachusetts who participated in the 2020 InsurPac fundraiser. The Bay State contributed $73,817, exceeding our goal AND putting us among the Top 3 state contributors in the country! MA Young Agents also hit their InsurPac goal. After tallying the receipts and closing the books, the InsurPac…
Finally! MAIA’s Fair & Accurate Quotes Bill Is Set to Become Law
MAIA President & CEO Nick Fyntrilakis (center) testifying on the Fair & Accurate Quotes Bill at the Massachusetts State House in 2019. MAIA’s persistence pays off! Bill H.4643, An Act Relative to Fair and Accurate Motor Vehicle Insurance Quotes, has jumped all but the final hurdle before it becomes law. It was incorporated into the…
New COVID-19 Order Restricts Workplace Capacity to 25%, Indoor Gatherings to 10 People
On December 22nd, Governor Baker issued COVID-19 Order No. 59, effective December 26th, which places new restrictions on the allowed capacity for gatherings and events in public spaces and workplaces. Most workplace sectors, including Office Spaces, are limited to 25% of capacity. Gatherings in private homes and public spaces are limited to 10 persons indoors…
MA Business Interruption Bill S.2655 Defeated
On November 24, the MA Senate Financial Services Committee took action on Bill S.2655, An Act Concerning Business Interruption Insurance, stating that the bill “ought NOT to pass.”
2021 InsurPac Campaign – Your Support is Essential
The 2021 fundraising campaign for InsurPac is underway, and we ask you to please watch this video from IIABA (Big “I”) President and CEO Bob Rusbuldt. Bob’s words demonstrate the critical importance of your continued support for our powerful federal political action committee. WATCH VIDEO: https://www.youtube.com/watch?v=cjsNvfNjDEc&feature=youtu.be
New Law Extends NFIP Through Sept. 30, 2021 – A Full Year
President Trump has signed a law extending the National Flood Insurance Program (NFIP) through Sept. 30, 2021. This is good news for MAIA/Big “I” members, as previous extensions to have been much shorter, enacted to temporarily prevent NFIP lapses. The additional time should help Congress build consensus on common-sense reforms to the NFIP. Wyatt Stewart…
MA Reopening Phase 3: Office Capacity Now 50%
Phase 3 Reopening (effective July 6, 2020) has increased the capacity limits in office space to 50% of occupancy limits. Businesses may exceed this maximum occupancy level based on demonstrated need.
DOI Bulletin: How P&C Insurers Should Handle Claims from the Norwood, MA Weather Event
The severe weather event in the Norwood, MA area on June 28 affected many homeowners who were already facing hardships due to COVID-19. Recognizing this situation, the DOI issued Bulletin 2020-22, outlining procedures and expectations for MA property & casualty insurers with regard to expedited claims handling and underwriting associated with this weather event. If…
Big “I” Launches New Pricing on IdealTraits Recruitment Platform
As we move toward reopening, many agencies will be looking to bring on new staff. One of the many hiring tools available to MAIA/Big “I” members is IdealTraits, a robust recruiting platform developed specifically to help insurance agencies identify, assess, and hire top performing sales and service staff. Effective today (July 1), the Big “I”…
Producer License Extensions & Online Renewals
The MA Division of Insurance (DOI) has ruled that if your Massachusetts insurance producer license was in good standing when the state of emergency was declared on 3/10/20, it will not expire until 90 days after the state of emergency is lifted (whenever that may be; the Governor has yet to announce it). However, licenses…
MAIA Submits Testimony Opposing MA S.2655 Business Interruption Bill
MAIA’s advocacy team is working hard to oppose S.2655, the Massachusetts Business Interruption bill, which seeks to legislatively apply BI coverage retroactively to claims based on COVID-19. On May 21, MAIA submitted testimony outlining the reasons for our opposition, and recommending a more equitable, federally funded alternative. We asked our national association, the Big “I,”…
Reopening: Template for Creating Written Control Plan
All businesses in the state of MA (including those deemed essential, such as insurance agencies) are required to develop a written control plan outlining how the workplace will comply with the mandatory safety standards for operation in the COVID-19 reopening period. The state has created a template that may be filled out to meet that…
DOI Calls for Carrier Flexibility in the Administration of Vacancy Clauses
The Division of Insurance (DOI) has issued Bulletin 2020-17, dated May 18, 2020, which acknowledges the fact that many MA businesses not deemed essential were required to close, and advising all property and casualty carriers in MA that they “should be looking for all ways to be flexible in counting days of vacancy to provide…
Reopening Guidelines & Safety Standards for Massachusetts
This week, Governor Baker released a phased approach for reopening the Massachusetts economy. As ‘essential’ businesses, insurance agencies have been allowed to remain open as long as they adhere to Massachusetts’ mandatory safety standards for workplaces, including social distancing measures. Nevertheless, many agencies have chosen to close their physical premises and limit customer contact. MAIA…
Share Your Opinions with Governor’s Reopening Advisory Board
Last week, Governor Charlie Baker announced the creation of a Reopening Advisory Board to help his administration develop strategies to reopen the economy in phases, based on health and safety metrics. They have posted an online form for those who want to share input with the Advisory Board. Your comments will be reviewed and taken into…