Area Legislators participate in MSIIAA Leg Breakfast

| April 27, 2015 | 0 Comments

MSIIAA Legislative Breakfast 2015

The Metro South Independent Insurance Agents Association (MSIIAA) held its Annual Legislative Breakfast this year on Tuesday, April 14th at the Thorny Lea Golf Club in Brockton, MA. We would like to thank the following legislators for attending: Senator Thomas P. Kennedy; Representatives Mike Brady, Claire Cronin, Keiko Orrall  and Michelle DuBois.

Legislative issues of concern and interest to our member agents were discussed. In particular, there were two bills that are priorities. One bill, SD-265/H-806 AN ACT RELATIVE TO THE PROPERTY DAMAGE THRESHOLD FOR SURCHARGEABLE INCIDENTS will increase the property damage threshold for surchargeable incidents between $1,001 and $5,000 for a minor accident, and increase the threshold for a major accident to $5,001 and above; and the second bill SD-266/H-807 SD-1458 AN ACT RELATIVE TO REQUIRING NOTICES OF INSURANCE PREMIUM OR INSURANCE COVERAGE CHANGES would require insurance companies to provide to the first-named insured and to the insurance producer of record, written notice of any premium increase in excess of fifteen (15) percent and also provide the exact renewal premium, at least forty-five (45) days prior to the expiration date of the policy unless the premium increase is the result of an audit or the increase is the result of an increase in the exposure at the request of the insured. The bill also would require insurance companies to provide written notice, not less than forty-five (45) days, as provided herein, for any coverage elimination, reduction, diminution or increased deductible not at the request of the insured and the notice shall itemized and describe the coverage changes and shall be separate from the renewal policy. Notice is considered given forty-five (45) days following date of giving of the Notice.

 

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