Tag Archives: DOI

Divison of Insurance… What Does it Do?

The Massachusetts Division of Insurance serves the people of Massachusetts and the insurance carriers. The DOI Mission Statement states it’s primary mission is to overlook the solvency of it’s licensees to create and maintain a productive and willing market for insurance consumers. It also includes the following: “Protection of consumer interests is of prime importance [...]

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Managed Compeition… Success.

April 1st 2008 Massachusetts let the auto insurance industry loose. Shifting from state regulated rates to a managed competition many changes were brought to the Massachusetts auto insurance industry and consumers. A study by the Department of Insurance analyzing this change included: a preliminary survey of 1,100 consumers, a comprehensive 30-minute survey of more than [...]

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Why You Need More Than the Minimums

Auto insurance is anything but optional. Not only should you want to have car insurance, the sate requires drivers to purchase it. Two important coverages, among others, Massachusetts requires drivers to have are Property Damage and Liability Coverage. Property damage covers damages the insured has caused to someone else property. Massachusetts state minimum for property [...]

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Department of Insurance Report

The Division of Insurance or the DOI issued an executive summary about the progress of Massachusetts change to managed competitive. Under the old system, state regulators set the insurance rates that all automobile insurance companies were allowed to charge. The new system has generated some excitement and brought in nine additional insurance carriers to the [...]

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