| Date: | 05/18/2018 |
|---|---|
| Organization: | Division of Insurance |
| Regulatory Authority: |
MGL c. 175A, § 15 MGL c. 175E, § 10 |
| Official Version: | Purchase the official print version |
211 CMR 79.00: (a) Promotes the public welfare by regulating insurance rates so that they are not excessive, inadequate or unfairly discriminatory; (b) Promotes the accuracy and fairness of private passenger motor vehicle insurance rates; (c) Promotes price competition among Insurers so as to provide insurance rates that are responsive to Competitive Market conditions; (d) Prohibits price-fixing agreements and other anticompetitive behavior by Insurers; (e) Provides regulatory procedures for the maintenance of appropriate data reporting systems; (f) Authorizes essential cooperative action among Insurers in the ratemaking process and to regulate such activity to prevent practices that tend to lessen competition substantially or to create a monopoly; and (g) Provides price and other information to consumers to enable them to purchase insurance suitable for their needs.
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