Who regulates insurance companies in Massachusetts?
The Division of Insurance (DOI) administers the Commonwealth’s laws pertaining to the protection of the insurance consumer through the regulation of the insurance industry.
Who is the commissioner of insurance in Massachusetts?
Gary D. Anderson
Gary D. Anderson was appointed Commissioner of the Massachusetts Division of Insurance by the Governor of Massachusetts on October 31, 2017.
What type of insurance is GIC?
The Group Insurance Commission (GIC) provides high-quality, affordable health insurance and other benefit options to over 220,000 subscribers and 460,000 members.
What is the Commission for general insurance agents?
General Insurance Agents Commission structure
| Category | Commission to agents | Commission to intermediary |
|---|---|---|
| Fire-Corporate (Risk SI>2,500 crore) | 5% | 6.25% |
| Marine-Cargo | 15% | 16.5% |
| Marine-Hull | 10% | 11.5% |
| Miscellaneous-Retail | 15% | 16.5% |
How heavily regulated are insurance companies?
Insurers are subject to federal anti-trust acts to the extent they aren’t regulated by state law. The federal government may pass insurance laws that supersede state laws. Insurers are subject to federal laws barring them from engaging in any boycott, coercion or intimidation.
How to apply for the group insurance commission?
See eligibility requirements before applying. The Group Insurance Commission (GIC) provides high-quality, affordable health insurance and other benefit options to over 220,000 subscribers and 460,000 members. Submit enrollment forms and payments online!
How to file a complaint with Mass.gov?
Click to file a complaint. You can download our Complaint Form. A. Fill it out (saving it as you go), and email it back (preferred method). Just attach the form to your email addressed to: [email protected].
Do you have to have collision insurance in Massachusetts?
While the state does not require collision and comprehensive insurance, lenders will almost certainly mandate such coverage for leased and financed vehicles. Even if the car is owned outright, drivers should consider obtaining collision and comprehensive coverage if they cannot afford to replace the vehicle if it is totaled in an accident.
How much car insurance do you need in Massachusetts?
Under Massachusetts law, motorists must carry a minimum of $20,000 per person and $40,000 per accident in Bodily Injury Liability (BIL) insurance, as well as at least $5,000 in Property Damage Liability (PDL) coverage.