The Standard - July 9, 2010

Published Since 1865 Boston, Mass. July 9, 2010 Vol. 267 No. 1

Mass. AG’s Auto Regulations Draw
Supporters and Dissenters at Hearing

MAIA Criticizes Coakley’s Rules for Agencies; Arbella Supports Regs, Most Insurers Do Not

BOSTON — Massachusetts Attorney General Martha Coakley recently presided over a public hearing to gather comments on her proposed regulations for the private passenger automobile insurance system.

The regulations earned support from several consumers, a few insurance agents and one insurance company, Quincy, Mass.-based Arbella Insurance Group.

The Massachusetts Insurance Federation and the Property Casualty Insurers Association of America (PCI) testified strongly against Coakley’s regulations.

In late May, Coakley’s office released a comprehensive set of regulations using her authority under Massachusetts General Laws Chapter 93A to issue regulations to prevent unfair and deceptive trade practices. Coakley stated that the regulations were designed to bring more consumer protections into the personal auto insurance market (see The Standard, June 4).

continued on page 22

Agents’ View

The Massachusetts Association of Insurance Agents (MAIA) spoke out against portions of the regulations that affect the day-to-day operations of independent insurance agencies.

III Recommends Safeguards for Vacationing Homeowners

In This Issue

Flood Insurance Program Extended to Sept.

NEW YORK CITY — Burglars apparently does not take holidays, as the Insurance Information Institute (III) warns the insurance industry and the public.

More Businesses Buying Terror Cover

Agent Leader Sees More Diverse System 5

Burglars breaking into homes this summer may be after more than jewelry and electronic equipment – they may also be looking to steal a new identity. As your insureds prepare to leave on vacation, it is important to let them know how to protect themselves against both a physical and a virtual break-in, according to the III.

AIA Encouraged by Safe Driving Law

PIACT Celebrates Partnership with Alliance 9

Most burglaries occur in July and August and homeowners insurance claims continued on page 18

Industry Income Rises in 1st Quarter

NAPSLO Cheers Advance of E&S Reform 14

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