Mass. Division Denies
FAIR Plan Rate Increases

BOSTON — The Massachusetts Division of Insurance last week rejected a rate filing from the Massachusetts Property Insurance Underwriters Association (MPIUA, or the FAIR Plan) for an average statewide increase of 7.2%, saying that the state’s residual market for homeowners insurance had not proved its need for the rate hike.

Regulators Agree With AG Coakley, State Rating Bureau That 7.2% Average Increase Was Not Supported

The average 7.2% change included a 6.7% increase for properties on Cape Cod, Martha’s Vineyard and Nantucket. It also would have raised rates by 9.9% in many urban areas including New Bedford, Worcester and Springfield. Statewide, the FAIR Plan insures about 200,150 properties, the Division said.

continued on page 30

Joseph G. Murphy, commissioner of insurance said that the FAIR Plan did not demonstrate via its filing and testimony during the rate hearing that the filing met statutory and regulatory standards. The Division’s actuarial branch, the State Rating Bureau (SRB) and Massachusetts

N.H. Panel Discusses Agency
Alliance Effect on Compensation

In This Issue

Insurance Groups Urge Senate on NFIP

Agents Advised of ACORD Changes 5

CONCORD, N.H. –– Last week, the Professional Insurance Agents of New Hampshire (PIANH) hosted a company-agency panel, in which industry professionals discussed profit sharing, distribution and compensation trends, and how these have been influenced by the growth and creation of agency alliances.

continued on page 24

Jeff Foy, AAI, chief operating officer of Foy Insurance Group moderated a panel consisting of Matt Masiello, AAI, executive vice president of SIAA and president and chief operating officer of SAN Group; Steve Berry, president of the New England region of the Main Street America Group (MSA); and Chris Volpe, vice president and board

Co-op Cos. Announce Elections

InVEST Raises Record Amount for Students

FOCUS ON WORKERS’ COMPENSATION

NCCI Sees “Conflicted” Market

Advice on Avoiding Litigation

TTD Benefit Duration Increased

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