Appendix A - Acts, Regulations & Bulletins
211 C.M.R. 20.00
Risk-Based Capital for Insurers
This amended regulation sets out the calculation to determine the level of risk-based capital that insurers are required to maintain. The amended regulation provides that a property and casualty insurer would trigger a Company Action Level Event if the company experiences a certain level of downward trend in capital. Such a trigger already exists for life and health companies.
211 C.M.R. 26.00
Annual Financial Reporting for Years Ending 2010 and After
This new regulation requires insurers and health maintenance organizations (HMOs) to report more financial information, thereby providing enhanced regulatory oversight. The regulation will assist the Division of Insurance in monitoring the solvency of insurers and HMOs by strengthening internal controls and improving corporate governance.
211 C.M.R. 52.00
Managed Care Consumer Protections and Accreditation of Carriers
This amended regulation requires managed care organizations to recognize nurse practitioners as participating providers and/or primary care providers on a nondiscriminatory basis. It also requires carriers that utilize behavioral health managers to comply with requirements for disclosures.
211 C.M.R. 86.00
Reductions in Premium Charges for Private Passenger Motor Vehicles and Certain Commercial Motor Vehicles Equipped With an Anti-Theft Mechanism (Repealed)
This regulation was repealed because it is outdated. Moreover, it is not necessary for the Commissioner of Insurance to designate "high theft vehicles" by regulation because she has the authority to designate such vehicles in accordance with M.G.L. c. 175, § 113H.
211 C.M.R. 93.00
Cost and Expense Containment for Motor Vehicle Insurers (Repealed)
This regulation was repealed because it is outdated.
211 C.M.R. 124.00
Reductions in Premium Charges for Private Passenger Motor Vehicles and Certain Commercial Motor Vehicles Equipped With Certain Safety Features (Repealed)
This regulation was repealed because it is outdated. In a competitive market, insurers are obligated, pursuant to M.G.L. c. 175E, § 4(d), to include in their rates appropriate reductions in premium charges for vehicles that are less damageable than others due to safety features incorporated into such vehicles. It is not necessary, therefore, for the Commissioner of Insurance to establish such reductions in premium charges by regulation during a competitive market.
211 C.M.R. 134.00
Safe Driver Insurance Plan
This regulation was amended to provide for the continuous, timely, accurate and uniform collection and exchange of private passenger motor vehicle insurance claim and traffic law violation data, both when private passenger motor vehicle insurance rates are fixed and established pursuant to M.G.L. c. 175, § 113B, and when such rates are filed on a competitive basis pursuant to M.G.L. c. 175E and M.G.L. c. 175A.
212 C.M.R. 2.04
Procedures for the Conduct of Appraisals and Intensified Appraisals
This regulation was amended to facilitate and expedite the process for the repair of damaged automobiles, and to provide guidance to insurance appraisers and repair shops with regard to the procedures for expedited supplemental appraisals.
Amendments Created by Chapter 205 of the Acts of 2007 Related to Eligibility as a Dependent in an Insured Health Plan
Issued to inform carriers of new provisions related to eligibility for a dependent in an insured health plan. Effective January 1, 2008, this Bulletin 2008-01 replaces the Division's prior Bulletin 2007-01.
Requirements for Disclosure of Minimum Creditable Coverage
Issued to provide insurers with guidance regarding the Massachusetts Health Care Reform Law requirement that all Massachusetts residents eighteen years of age and older have health coverage that meets the Minimum Creditable Coverage standards as set by the Commonwealth Health Insurance Connector.
Addendum to "2008 Guide to Health Insurance for People with Medicare"
Issued to notify insurers that they must provide individuals eligible for Medicare with a copy of Massachusetts Bulletin for People with Medicare and the 2008 Guide to Health Insurance for People with Medicare.
Filing Procedures for Compliance with the Provisions of the Terrorism Risk Insurance Program Reauthorization Act of 2007
Issued to inform insurers of certain provisions contained in the Terrorism Risk Insurance Program Reauthorization Act of 2007, an Act amending the Terrorism Risk Insurance Act of 2002.
Supplemental Filing Procedures Notice
Issued to notify insurers that rate and form filings submitted to comply with the federal Terrorism Risk Insurance Program Reauthorization Act of 2007 also must meet the Division's filing and fee requirements for other property and casualty products.
Distribution of Consumer Information Guides and Additional Policy Information Materials for Private Passenger Motor Vehicles Insurance Policies with Effective Dates on and after April 1, 2008
Issued to inform insurers about the Division's distribution requirements related to certain consumer and policy information materials
Availability of Private Passenger Motor Vehicle Insurance Rate Filings for Public Inspection
Issued to inform all interested persons of the Division's practices regarding the availability of private passenger motor vehicle insurance rate filings for public inspection.
Requirements for Private Passenger Motor Vehicle Insurance Policies Issued for Terms of Six Months
Issued to provide guidance to insurance producers and companies regarding voluntary private passenger motor vehicle insurance policy endorsements limiting the coverage term to six consecutive months.
Guidelines for the Submission of Form, Rate and Rule Filing Materials for Review by the Massachusetts Division of Insurance
Issued to advise rating organizations and carriers about the requirements governing the submission of form, rate, and/or rule filings for certain insurance products.
Regulatory Review Standards Applicable to Private Passenger Motor Vehicle Insurance Rate Filings in the Residual Market for Rates Effective April 1, 2009 through March 31, 2010
Issued to advise insurers of the standards applicable to private passenger motor vehicle insurance rate filings for residual market policies submitted by Commonwealth Automobile Reinsurers (CAR).
Documenting Transfers of Private Passenger Motor Vehicle Insurance
Issued to notify insurance producers and insurers that Massachusetts law does not require the use of a particular form of notice of transfer when transferring insurance on private motor vehicles.
Regulatory Review Standards Applicable to Private Passenger Motor Vehicle Insurance Rate Fillings in the Voluntary Market for Rates Effective April 1, 2009 through March 31, 2010
Issued to notify insurers of the standards governing the Commissioner of Insurance's review of voluntary private passenger motor vehicle insurance rate filings for rates effective April 1, 2009 through March 31, 2010.
Clarification of Coordination of Benefits under M.G.L. c. 90, §34A and the interrelationship by and among PIP, Health Insurance and Medical Payments
Issued to address the order for the coordination of benefits by and among Personal Injury Protection (PIP) coverage, Medical Payments (MedPay) coverage, and health coverage by a health insurance carrier for motor vehicle accident claimants. The Bulletin also discusses certain provisions of previously issued Division Bulletin 1990-02.
Designation of "High-Theft Vehicles" and Prescribed Anti-Theft or Auto Recovery Devices
Issued to inform insurers in Massachusetts of the Commissioner's designation of "high-theft vehicles" and anti-theft devices in accordance with her authority under M.G.L. c. 175, § 113H.
AIG Life and Annuity Insurers
Issued to inform insurers of their obligations associated with the solicitation and replacement of life insurance and annuities. More specifically, the bulletin reminds such insurers of their legal obligation to ensure that policyholders of AIG life and annuity insurers are not subject to misleading or unsuitable replacement solicitations or sales.
Building Partnerships with Insurers to Improve the Lives of Children
Issued to inform insurers of the insurance match initiative available through the U.S. Department of Health and Human Services. The goal of the federal program is to identify those individuals who are delinquent in their child support payments before these individuals receive any insurance proceeds.
Coverage for Inherited Diseases of Amino Acids and Organic Acids
Issued to notify insurers of Chapter 214 of the Acts of 2008, An Act Increasing Coverage of Nonprescription Enteral Formulas, and the resulting increased mandated benefit coverage for low protein food products.
Policy Placement Requirements for Private Passenger Motor Vehicle Insurance Policies with Effective Dates On or After April 1, 2009
Issued to inform insurers about requirements for policy placement among company affiliates within an insurer group or among risk categories within a single company for those private passenger motor vehicle insurance policies with effective dates on or after April 1, 2009. Such requirements are designed to promote fair and transparent business practices in both the voluntary and residual private passenger motor vehicle insurance markets.
Filing Guidelines for Compliance with Chapter 230 of the Acts of 2008
Issued to inform insurers of filing guidelines under Chapter 230 of the Acts of 2008, An Act Relative to Equitable Coverage for Annuity Policies, and to clarify certain provisions of the new law. This new law requires insurers to calculate reserves on a gender neutral or gender blended basis. It also requires all individual and group annuity contracts issued on or after January 1, 2009 that cover residents of Massachusetts to be neutral as to race, color, religion, sex, marital status or national origin with regard to pricing and benefits.
Guidelines for Submission of Fees Associated with Form, Rate and Rule Materials
Issued to inform rating organizations and insurance carriers of guidelines for the submission of fees associated with form, rate and rule materials filed with the Division of Insurance and to expand and clarify certain provisions of Division Bulletin 2008-08 issued on May 20, 2008, which governed a similar topic.
Licensing Requirements for Variable Life/Variable Annuities Lines of Authority
Issued to clarify the licensing requirements for insurance producers and companies marketing and selling variable life or annuity products, regardless of whether they are group or individual products. Specifically, the Bulletin notifies insurance producers and insurers that to be licensed to sell variable life and variable annuity products in the Commonwealth, and insurance producer must also: (1) have successfully passed a life insurance examination; (2) have successfully passed the FINRA (formerly NASD) Series 6 or Series 7 examinations; (3) be actively licensed and in good standing with FINRA; (4) must possess a valid FINRA Central Registration Depository (CRD) number; and (5) be affiliated with a registered broker/dealer who also is in good standing with FINRA.