P.O. Box 324
Truro MA, 02666

Fair Plan Rate Hike – 9.9% Increase Slated for Cape – Public Meeting May 29

The  FAIR PLAN has submitted a request for a rate hike, including a 9.9% increase for the Cape and Islands, slated to go into effect July 1st.   A Public Hearing on this rate request is scheduled for Wednesday, May 29,2013, at 11 AM at the Barnstable Town Hall, 367 Main Street,  Hyannis MA in the 2nd Floor Hearing Room.  The Committee for Homeowners Insurance Reform will hold a rally on the Village Green next to the Barnstable Town Hall from 9:30 AM – 10:30 AM.

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:     

Hearing Officer

Docket Clerk No R 2013-01

Hearings and Appeals

Division of Insurance

1000 Washington Street

Suite 810 

Boston MA 02118-6200