PP Residual Market Rates Placed on File by DOI - February 28, 2020

On February 26, 2020, the Division of Insurance placed CAR’s Private Passenger Residual Market rates and rating manual on file for policies effective June 1, 2020 and subsequent. Amendments were made to the base rates, along with other minor modifications detailed in the Implementation Instructions document. Pursuant to G.L. c.175, §113H, these rates will be charged to consumers only in circumstances where these rates do not “exceed the premium charges, which would be used by each risk’s Servicing Carrier for that risk if such risk were written on a voluntary basis.”

For additional information, please refer to Bulletin No. 1095 distributed on February 28, 2020.

 
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