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 54.03 - Definitions

As used in 211 CMR 54.00, the following terms shall mean:

Affiliate. Any parent, subsidiary or other corporation which is either controlled by the applicant, or by a corporation which controls the applicant, or one which controls the applicant, with Control defined as in M.G.L. c. 175, § 193L.

Applicant. An insurer or group of insurers, including all affiliates, any of which are authorized to write motor vehicle insurance, (referred to herein collectively as the "applicant") intending to surrender or non-renew any or all of its licenses to engage in the business of insurance in the Commonwealth as of a certain date, and seeking review and approval of a withdrawal plan to implement that process.

Assigned Risk Company. An insurer that has been appointed pursuant to the CAR Plan and Rules of Operation to issue motor vehicle policies in accordance with M.G.L. c. 175, § 113H.

Commissioner. The Commissioner of Insurance appointed pursuant to M.G.L. c. 26, § 6, or his or her designee.

Commonwealth Automobile Reinsurers (CAR). The plan established by M.G.L. c. 175, § 113H, serving as the residual market mechanism for motor vehicle insurance.

Division. The Division of Insurance created pursuant to M. G. L. c. 26, § 1.

Insurer. A company authorized to write insurance of any kind under M.G.L. c. 175.

License. Any license, certificate of authority, or other formal approval granted or issued by the Division authorizing an insurer to engage in the business of insurance in the Commonwealth.

Massachusetts Resident. A person who is domiciled in Massachusetts or a corporate entity doing business or having any employees in Massachusetts.

Motor Vehicle Insurance. Motor vehicle policies or bonds as defined in M.G.L. c. 90, §§ 34A, 340 and c. 175, §§ 113A, 113C, 113E, and 1130.

Policy. Any policy of insurance, annuity, rider, endorsement or other contract covering any Massachusetts resident.

Producer. An insurance producer licensed in accordance with M.G.L. c. 175, § 1621.

Servicing Carrier. An insurer that has been appointed pursuant to the CAR Plan and Rules of Operation to issue commercial motor vehicle policies in accordance with M.G.L. c. 175, § 113H.

Withdrawal Plan. A plan submitted by an applicant in accordance with the provisions of 211 CMR 54.00 which describes in detail how the applicant intends to fulfill its responsibilities in connection with the surrender or non-renewal of its license(s).