Mass. Weighs FAIR Plan Property Insurance Rates
Massachusetts will begin public hearings next week on a request by the state’s property insurer of last resort to raise rates from 1.9 percent to 7 percent.
The hearings are set to begin Dec. 15 on the request by the Massachusetts Property Insurance Underwriting Association (MPIUA), also known as the FAIR Plan. The MPIUA is seeking overall rate increases for Homeowners Multi-Peril of 1.9 percent; for Dwelling Fire and Extended Coverage, 7.0 percent; and for Commercial Fire and Allied Lines 0.0 percent.
The proposed effective date for each filing is Dec. 31, 2009.
Popular Today
- Lloyd’s Insurers Don’t Expect Large Claims From Baltimore Bridge Collapse
- Insurer Chubb Readies $350M Payout Tied to Baltimore Bridge Collapse
- An Origin Story: The History of the Professional Liability Underwriting Society
- Cracks in O’Hare Columns Aren’t Insured Property Damage, Just Bad Product – Court