Governing Committee Meeting - June 15, 2022

President's Report

CAR’s President recognized Governing Committee members Daniel Olohan of MAPFRE U.S.A. Corporation and Kellie Thibodeau of The Hanover Insurance Company for their service on the committee as their term expires on June 30, 2022, and welcomed newly appointed members, Sarah Clemens of MAPFRE and Christopher D. Taylor of Hanover. Meredith Woodcock of Liberty Mutual Insurance Companies and Pamela Bodenstab – Krynicki of the P.L. Krynicki Insurance Agency, Inc. were also welcomed back for another term.

Actuarial Committee Committee

The Governing Committee approved the Actuarial Committee’s recommendation to make no changes to the current keep-out and take-out credit factors for policies effective April 1, 2023 and subsequent. Refer to Bulletin No. 1137 for additional information.

Compliance and Operations Committee

The Governing Committee approved the recommended updates to Chapter XI of the Assigned Risk Company Procedures Manual introducing audit fees for late access to rating data. Please refer to Bulletin No. 1138 for further information.

Commercial Program Oversight Committee

The Committee reviewed the Servicing Carrier 2021 Annual Reports. In their reports, Servicing Carriers recognize that efforts initiated over the past few years to address problem areas are proving impactful. Questions and suggestions made by the Servicing Carriers will either be addressed directly with the Servicing Carrier, resolved internally by staff, or referred to the appropriate committees for consideration.

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