Code of Massachusetts Regulations
211 CMR - DIVISION OF INSURANCE
Title 211 CMR 54.00 - Procedure For Surrender And Non-renewal Of Licenses By Insurers Authorized To Write Motor Vehicle Insurance
Section 54.01 - Purpose and Scope

Universal Citation: 211 MA Code of Regs 211.54

Current through Register 1531, September 27, 2024

(1) Purpose and Scope. The procedures established by 211 CMR 54.00 shall govern the administrative process by which an insurer or group of insurers authorized to write motor vehicle insurance may initiate the process of surrendering or non-renewing any or all licenses to engage in the business of insurance in the Commonwealth.

(2)211 CMR 54.00 shall apply only when one or more of the licenses to be surrendered or non-renewed is a license to write motor vehicle insurance.

(3) The purpose for codifying 211 CMR 54.00 is to prevent or limit massive market disturbance and to preserve the rights of existing policyholders and others affected, while permitting insurers to phase out their business in an orderly fashion and consistently with the satisfaction of their obligations under applicable laws.

Disclaimer: These regulations may not be the most recent version. Massachusetts may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.