The Massachusetts Property Insurance Underwriting Association (MPIUA), also known as the FAIR Plan, has filed for rate increases for its multi-peril homeowners risks. The FAIR Plan is seeking a 4.5 percent increase in rates for HO Forms 2, 3 and 5; a 1.3 percent hike in HO6; and a decrease of 1 percent for HO 4.
The Division of Insurance has scheduled a hearing on the rate filing for Nov. 3.
For the first time, the FAIR Plan has included a provision for underwriting profit and contingencies. Its filing also includes a factor to account for potential hurricane losses.
The proposed effective date for each filing is Dec. 31, 2004.
Was this article valuable?
Here are more articles you may enjoy.
Amish Mother and 6 Children Killed in Explosion and Fire at Pennsylvania Home 
Ex-CEO, Ex-CFO of Bankrupt AI Company Charged With Fraud 
Three Sentenced in Bear-Suit Attacks Insurance Fraud Case 
How Niche Insurance Shielded Bad Bunny From Bad Weather 
