Hearing Scheduled for May 18, 2007
In accordance with Section 5 of Chapter 175E of the Massachusetts General Laws, a hearing will be held on May 18, 2007, at 10:00 a.m. at the Division of Insurance, 5th Floor, One South Station, Boston, MA, to consider testimony, both oral and written, concerning whether the fix-and-establish ratesetting procedure used to set 2007 private passenger automobile insurance rates should be renewed to set 2008 rates.
In this hearing, the Commissioner will examine whether for 2008 private passenger automobile insurance rates, with respect to any territory or to any kind, subdivision or class of insurance, competition is either i) insufficient to assure that rates will not be excessive, or ii) so conducted as to be destructive of competition or detrimental to the solvency of insurers. The Commissioner will be considering, among other things: 1) the information that will be made available to consumers, the manner in which it will be made available, and the timetable for making such information available; 2) the willingness of insurers to expand their business in Massachusetts; and 3) the willingness of insurers to accept applicants at posted prices.
Any person who wishes to testify is requested to submit a Notice of Intent to Testify on or before May 16, 2007. All other persons will be heard after those who submit such notice. Written comments may be submitted at any time prior to the conclusion of the hearing. Participants who wish to introduce actuarial or other data at the hearing are urged to file such data with the Division no later than May 14, 2007.
This proceeding is designated as Docket No. R2007-03. All submissions shall contain this designation, and must be addressed to the Docket Clerk, Hearings and Appeals, Division of Insurance, One South Station, Boston, MA, 02110-2208.
Dated: April 20, 2007