Code of Massachusetts Regulations
211 CMR - DIVISION OF INSURANCE
Title 211 CMR 79.00 - Private Passenger Motor Vehicle Insurance Rates
Section 79.01 - Purpose and Scope
Universal Citation: 211 MA Code of Regs 211.79
Current through Register 1531, September 27, 2024
(1)211 CMR 79.00 shall apply to Rates and Premium charges for all types of coverages under private passenger motor vehicle insurance policies including, but not limited to, the form and content of Rate and Advisory Filings for the Voluntary Market in accordance with M.G.L. c. 175E and M.G.L. c. 175A; Residual Market Rate Filings in accordance with M.G.L. c. 175A; activities of Rating Organizations, and the conduct of hearings and related proceedings under M.G.L. c. 175A and M.G.L. c. 175E.
(2) The purposes of 211 CMR 79.00 are:
(a) To promote the public welfare by
regulating insurance rates so that they are not excessive, inadequate or
unfairly discriminatory;
(b) To
promote the accuracy and fairness of private passenger motor vehicle insurance
rates;
(c) To promote price
competition among Insurers so as to provide insurance rates that are responsive
to Competitive Market conditions;
(d) To prohibit price-fixing agreements and
other anticompetitive behavior by Insurers;
(e) To provide regulatory procedures for the
maintenance of appropriate data reporting systems;
(f) To authorize 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) To provide price
and other information to consumers to enable them to purchase insurance
suitable for their needs.
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