WCRIBMA Special Bulletin: Residual Market Loss Ratio and Burden Estimate 07-19
WCRIBMA Special Bulletin: Residual Market Loss Ratio and Burden Estimate 07-19 The MA Workers’ Compensation Rating and Inspection Bureau (WCRIBMA) released Special Bulletin 07-19, Residual Market Loss Ratio and Burden Estimate.
Rough Notes Magazine Shines a Spotlight on Big “I” Hires
Rough Notes Magazine Shines a Spotlight on Big “I” Hires If we told you that finding new talent is a huge struggle in our industry, you’d probably say, “thanks, Captain Obvious.” However, as this excellent article by Christopher Cook of Rough Notes magazine explains, help is available to our members through Big “I” Hires, the…
Good News for IAs About Millennial Insurance Buyers
Good News for IAs About Millennial Insurance Buyers A new Liberty Mutual Insurance and Safeco Insurance research study shows that millennial insurance consumers’ views of insurance are largely aligned with older generations, dispelling many myths about this generation and presenting a huge opportunity for the independent agent channel.
WCRIBMA Releases Insured Assessment Rates for All Policies Effective July 1
WCRIBMA Releases Insured Assessment Rates for All Policies Effective July 1 The MA Workers’ Compensation Rating and Inspection Bureau (WCRIBMA) has issued Circular Letter No. 2350, dated June 28, 2019, and titled Department of Industrial Accidents Assessment. The letter lists the official assessment rates to be applied to policies effective July 1, 2019 and thereafter.
CAR’s MAIP Steering Committee Votes to Amend Rules 21–33 & 36–39
CAR’s MAIP Steering Committee Votes to Amend Rules 21–33 & 36–39 In Bulletin 1082, Commonwealth Automobile Reinsurers (CAR) announced their vote to amend the following CAR Rules of Operation, which define the policies and procedures by which Members, Assigned Risk Companies, and Assigned Risk Producers are governed with regard to the operation of, and participation…
WCRIBMA Special Bulletin: Updated Information on Residual Market Share 06-19
WCRIBMA Special Bulletin: Updated Information on Residual Market Share 06-19 The MA Workers’ Compensation Rating and Inspection Bureau (WCRIBMA) released Special Bulletin 06-19, Updated Information on Residual Market Share.
CAR Approves Modification to Rule 2’s Definition of “Eligible Risk”
CAR Approves Modification to Rule 2’s Definition of “Eligible Risk” UPDATE: Effective July 23, 2019, the changes to Rule 2– Definitions are officially approved. Details. Commonwealth Automobile Reinsurers (CAR) recently released Bulletin No. 1081, “Proposed Changes To The Rules of Operation,” explaining their revisions to Rule 2 — Definitions. The Bulletin reads in part:
WCRIBMA Circular Letter: Massachusetts Indemnity Data Call
WCRIBMA Circular Letter: Massachusetts Indemnity Data Call The Massachusetts Workers’ Compensation Rating and Inspection Bureau has issued Circular Letter No. 2349, dated June 14, 2019, and titled Massachusetts Indemnity Data Call. The WCRIBMA’s Governing Committee authorized the implementation of a Massachusetts Indemnity Data Call to be reported directly to the WCRIBMA. Participation in the Massachusetts Indemnity…
MPIUA Announces Revisions to Assessment and Valuation Program
MPIUA Announces Revisions to Assessment and Valuation Program The Massachusetts Property Insurance Underwriting Association (MPIUA), has updated its risk assessment and valuation program to CoreLogic RCT Express version 4.5. This upgrade has been in use in the voluntary market being received with positive review. RCT Express version 4.5 contains several updates which make it both…
WCRIBMA Special Bulletin: Updated Information on Residual Market Share
WCRIBMA Special Bulletin: Updated Information on Residual Market Share The MA Workers’ Compensation Rating and Inspection Bureau (WCRIBMA) released Special Bulletin 05-19, Updated Information on Residual Market Share.
Updated Company Auto Insurance Filings – April 2019
Updated Company Auto Insurance Filings – April 2019
CAR Implements New Web-Based Cession System
CAR Implements New Web-Based Cession System Commonwealth Automobile Reinsurers (CAR) has released Bulletin 1079, dated April 18, 2019, announcing the implementation of a new cession application for adding, correcting, and reviewing cession records. The new, secure, web-based application functions similarly to CAR’s previous mainframe application, but adds several convenient capabilities for users. It will be…
WCRIBMA Special Bulletin: Residual Market Loss Ratio & Burden Estimate — April 2019
WCRIBMA Special Bulletin: Residual Market Loss Ratio & Burden Estimate — April 2019 The MA Workers’ Compensation Rating and Inspection Bureau (WCRIBMA) released Special Bulletin 04-19, Residual Market Loss Ratio and Burden Estimate. Residual Market Burden is a measure of the pool-related cost that pool members incur when writing assessable voluntary business.
WCRIBMA Circular Letter: Establishment of an Audit Noncompliance Charge
WCRIBMA Circular Letter: Establishment of an Audit Noncompliance Charge The MA Workers’ Compensation Rating and Inspection Bureau (WCRIBMA) has issued Circular Letter No. 2348, Establishment of an Audit Noncompliance Charge, dated April 4, 2019, and titled. The letter explains a pilot program that would enable WC insurance carriers, under certain conditions, to apply a noncompliance charge…
CAR Bulletin: DOI Disapproves Proposed Amendment to Rule 29: Assignment Process
CAR Bulletin: DOI Disapproves Proposed Amendment to Rule 29: Assignment Process Commonwealth Automobile Reinsurers (CAR) Bulletin 1078, dated April 4, 2019, reports the Division of Insurance (DOI) decision to disapprove a proposed amendment to Rule 29 of the Rules of Operation that would have changed the credit factors for carriers writing voluntary business instead of placing them…
CAR Bulletin: DOI Approves Amendment to Rule 14: ERP Requirements
CAR Bulletin: DOI Approves Amendment to Rule 14: ERP Requirements Commonwealth Automobile Reinsurers (CAR) Bulletin 1077, dated March 29, 2019, reports the Division of Insurance (DOI) decision to approve changes to Rules of Operation Rule 14 – Exclusive Representative Producer Requirements.
CAR Bulletin: DOI Disapproves Proposed Amendment to Rule 2: Definition of Eligible Risk
CAR Bulletin: DOI Disapproves Proposed Amendment to Rule 2: Definition of Eligible Risk Commonwealth Automobile Reinsurers (CAR) Bulletin 1076, dated March 29, 2019, reports the Division of Insurance (DOI) decision to disapprove a proposed amendment to Rule 2 of the Rules of Operation which sought to modify the definition of “Eligible Risk.”
CAR Approves Radius Class and Geographic Classification Standards
CAR Approves Radius Class and Geographic Classification Standards Commonwealth Automobile Reinsurers (CAR) recently released BULLETIN NO. 1075, “Radius Class and Geographic Classification of Trucks, Tractors and Trailers and Public Automobile Standards.”