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…
Voluntary Revocation of Operating Authority: Q&A from FMCSA
Many companies that operate apportioned, plated tractor trailers registered under IRP have suspended operations, and may be considering voluntary revocation of their operating authority. The Federal Motor Carrier Safety Administration (FMCSA) has received numerous questions about this, and agents may be getting questions about the related insurance ramifications. The FMCSA has created a Q&A sheet,…
Reminder: Insurance Licenses WILL NOT Expire During the COVID-19 Emergency
As long as your MA insurance license was in good standing as of March 10, 2020 (the day Governor Baker declared a state of emergency in MA), it is extended and will remain valid until 90 days after the state of emergency is lifted, even if it would otherwise have expired. Although you MAY renew…
Massachusetts Private Passenger Auto Insurance Refunds in Response to COVID-19
With so many people in MA following stay-at-home orders, many insurers are seeing decreases in loss frequency in their personal lines auto books and setting up processes to refund or credit their customers’ premiums. MAIA has put together a list of Massachusetts Private Passenger Auto Insurance Refunds in Response to COVID-19.
DOI Bulletin: Individual Insurance Licensing During COVID-19
The MA Department of Insurance (DOI) has issued Bulletin 2020-12, which confirms the news we shared last week, that all insurance licenses that were “in good standing” as of March 10 will remain valid for 90 days after the Emergency Declaration is lifted. The DOI encourages licensees to complete CE requirements in advance of their…
CAR Bulletin No. 1097 – Guidance for Servicing Carriers and Exclusive Representative Producers during the COVID-19 Public Health Crisis
CAR Bulletin No. 1097 – Guidance for Servicing Carriers and Exclusive Representative Producers during the COVID-19 Public Health Crisis According to Commonwealth Automobile Reinsurers (CAR) Bulletin 1097, the Registry of Motor Vehicles has requested that CAR issue a bulletin to advise industry participants of the RMV’s new Registration and Title Application (RTA).
WCRIBMA Issues Changes to Workers’ Comp Rates & Codes
WCRIBMA Issues Changes to Workers’ Comp Rates & Codes On March 31, the Massachusetts Workers’ Compensation Rating and Inspection Bureau (WCRIBMA) issued four Circular Letters (Nos. 2362-2365) on the following workers’ compensation topics: General Revision of Rates Applicable to New and Renewal Business; Changes in Manual Rates by Class; Manual Rates and Rating Values; and COVID-19…
Recruiting the Next Generation
Recruiting the Next Generation Insurance Career Month (February) is well underway, and Property/Casualty360 has pulled together a selection of career development articles, resources, and tips for recruiting and fostering new blood in our industry. Insurance is undergoing rapid change and disruption. For millennials and college students, who embrace technology and want variety and meaning in…
New Insurance Apprenticeship Program Takes Aim at Talent Gap
New Insurance Apprenticeship Program Takes Aim at Talent Gap February is Insurance Careers Month, ideal timing to announce a new, national insurance apprenticeship program from the nonprofit firm Invest. With approval from the Department of Labor, Invest will now begin partnering with local Big “I” state associations (like MAIA) to develop local apprenticeship programs that…
Hands-Free – It’s the Law as of Feb. 23
Hands-Free – It’s the Law as of Feb. 23 Are your clients aware that holding their cellphone while driving will soon become a surchargeable offense? Effective 2/23/2020, the new “hands-free” law in MA makes it illegal for motor vehicle and bicycle operators to hold any electronic device or phone, including when stopped at red lights…
IA Magazine Interviews MA Agent Bill Braley on Environmental Liability
IA Magazine Interviews MA Agent Bill Braley on Environmental Liability A big shout-out of congratulations to longtime MAIA member Bill Braley, SVP of Braley Wellington Insurance Agency in Worcester, who was featured in a recent issue of IA Magazine (a publication of our national association, the Big “I”). IA Assistant Editor AnneMarie McPherson interviewed Bill…
Updated Company Auto Insurance Filings – January 2020
Updated Company Auto Insurance Filings – January 2020
WCRIBMA’s Circular Letter No. 2359
WCRIBMA’s Circular Letter No. 2359 The Massachusetts Workers’ Compensation Rating and Inspection Bureau has issued Circular Letter No. 2359, dated January 10, 2020, and titled Manage Ownership Web-Based Tool.
WCRIBMA’s Circular Letter No. 2357
WCRIBMA’s Circular Letter No. 2357 The Massachusetts Workers’ Compensation Rating and Inspection Bureau has issued Circular Letter No. 2357, dated December 20, 2019, and titled Rate Filing, Pending Premium Change Endorsement. To access this Circular Letter, please use the following link:
WCRIBMA’s Special Bulletin No. 12-19
WCRIBMA’s Special Bulletin No. 12-19 The Massachusetts Workers’ Compensation Rating and Inspection Bureau has issued Special Bulletin No. 12-19, dated December 20, 2019, and titled Updated Information on Residual Market Share. To access this Special Bulletin, please use the following link:
Agency Owners: Are You Ignoring These 7 Risks to Your Business?
Agency Owners: Are You Ignoring These 7 Risks to Your Business? Oftentimes, agency owners are so focused on their clients’ needs that they neglect their own, placing their business at increased risk. In case you missed it, a recent issue of The Standard featured an article by InsurBanc’s David Tralka discussing seven risks you need…
What the New Hands-Free Driving Law Means for Your Clients
What the New Hands-Free Driving Law Means for Your Clients Here are a few details that your MA auto clients should know about the new Hands-Free Driving Law: It takes effect February 23, 2020. It will be illegal for drivers to do anything other than tap their cellphone once to activate hands-free mode – and…
CAR Updates Manual of Administrative Procedures
CAR Updates Manual of Administrative Procedures Commonwealth Automobile Reinsurers (CAR) has released Bulletin No. 1092-Updates to the Manual of Administrative Procedures, announcing that the manual has been updated to reflect changes in the following sections: Chapter I-Overview; Chapter II- Servicing Carrier Appointment; Chapter III; Servicing Carrier Responsibilities; and Chapter X- Servicing Carrier and Exclusive Representative…