The Private insurers who make up the Fair Plan have been allowed to raise their premiums over 437% for the Cape and Islands from 1992-2011 according to the reports from the MA Dept of Insurance. The loss ratios and wind damage claims in Territory 37, the Cape and Islands, are among the lowest in the State. The Fair Plan has over $300 million in surplus since 2006.
Please attend the hearing, the rally and/or write to the Division of Insurance opposing this rate increase and letting them know about your experience with the Fair Plan rate increases (both in premiums and deductibles) over the last eight years.
If you cannot attend please send your views to the:
Docket Clerk No R 2013-01
Hearings and Appeals
Division of Insurance
1000 Washington Street
Boston MA 02118-6200