Governing Committee Meeting - September 22, 2017

President’s Report

The Governing Committee approved Sentry Insurance Group as an Assigned Risk Company. Sentry’s initial private passenger rate filing has been placed on file by the Division of Insurance.

Commercial Automobile Committee

The Governing Committee took no action of the Commercial Automobile Committee’s recommendation to retain the current commercial cedeable limits, but agreed that as discussion continues on other commercial market issues, this topic may be reviewed again as part of a more comprehensive recommendation to the Governing Committee. It is anticipated that in addition to cedeable limits, the recommendation will address Servicing Carrier and Exclusive Representative Producer requirements, information sharing among Servicing Carriers, standard underwriting procedures for Servicing Carriers, and a classification plan for private passenger type risks.

Additionally, the Governing Committee recommended that further review be performed by a subcommittee to consider what may be extraordinary efforts by Servicing Carriers in managing the residual market in order to establish parameters as necessary for reimbursement of expenses not anticipated in the RFP process.

 
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