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Latest Insurance FAQs
What is the Safe Driver Insurance Plan (SDIP)?
The Safe Driver Insurance Plan (SDIP) is mandated by state law to establish classifications of risks to fairly reflect the driving records of insureds and adjust premiums based in part on at-fault accidents. The Plan encourages safe driving by rewarding drivers who do not cause accidents or incur traffic law violations with a credit to their automobile insurance premiums, and discourages unsafe driving by requiring high-risk drivers to pay a greater share of insurance costs. Massachusetts, unlike many comparable jurisdictions that afford no or limited due process rights, provides the right to a hearing before an impartial hearing officer of the Board.
Surcharge points are incurred if you:
- cause an at-fault accident
- are convicted of or pay a fine for a traffic law violation
- are assigned to an alcohol education program
Insurance Industry News
Insurance Journal » National News
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AIA?s Snyder Describes Korea Trade Pact as ?Excellent Model?- Wed, 22 Feb 2012 19:12:40 +0000The long-awaited implementation of the Free Trade Pact between the Republic of Korea, or South Korea, and the U.S. (KORUS) is scheduled to go into effect on March 15. The date will see the conclusion of negotiations that began in 2006, … |
Professional Underwriting Group Provides Insolvency Carve Back- Wed, 22 Feb 2012 13:05:46 +0000The Professional Underwriting Group, Inc. (PUG) will now provide insurance agents and brokers professional liability insurance for insurers earning a rating of ?A? or better from Demotech. The insurance offering includes coverage for insolvency to the producer when the market … |
The Hartford?s AARP Program Looking for Agents- Wed, 22 Feb 2012 10:00:34 +0000The Hartford says it will be increasing the availability of its auto insurance program for members of the American Association of Retired Persons (AARP) by expanding its base of producers. Originally, members of the AARP could only get the car … |
U.S. Drops Major Anti-Bribery Prosecution- Wed, 22 Feb 2012 09:00:52 +0000The Obama administration on Tuesday dropped a major bribery prosecution that had been part of a campaign to crack down on corruption after the government suffered several setbacks in court in a case involving military equipment sales. Federal prosecutors moved … |
U.S. Firms Seek Clarity on Anti-Bribery Law- Wed, 22 Feb 2012 09:00:34 +0000U.S. corporations asked the government to explain what it considers a bribe of a foreign official, saying the lack of clarity has had a chilling effect on business. The Chamber of Commerce and dozens of other trade groups wrote a … |
Atypical P/C Executive: Chartis CEO Hancock on Fear, Regulation, Science and More- Wed, 22 Feb 2012 09:00:07 +0000The keynote speaker told the professional liability insurance underwriters that regulation is not the enemy of business growth, the plaintiffs? bar is their ally, deleveraging of financial institutions is a good thing, financial firms have not learned the lessons of … |
There?s an App for That: Mobile Phone Quoting- Wed, 22 Feb 2012 03:16:55 +0000Don?t be surprised if in the not-too-distant future on a television commercial you see Flo, adorned in her white apron, drop her price scanner and pick up a smartphone, on which she takes a picture of a driver?s license and … |
Ratings Roundup: Plateau Group, Gerling America- Tue, 21 Feb 2012 22:43:39 +0000A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A-’ (Excellent) from ‘B++’ (Good) and issuer credit rating (ICR) to ?a-? from ?bbb+? of Plateau Insurance Company (PIC). Best also affirmed the FSR of ‘A-’ (Excellent) and ICR … |
Best Affirms American Safety Insurance Holdings and Subs Ratings- Tue, 21 Feb 2012 22:28:44 +0000A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings of ?a? of the insurance operating subsidiaries of Bermuda-based American Safety Insurance Holdings, Ltd. (ASI), which includes: American Safety Casualty Insurance Company, based in … |
Allied World U.S. Creates Mergers & Acquisitions Division- Tue, 21 Feb 2012 21:31:38 +0000Allied World U.S. has expanded its professional lines operations through the launch of a new mergers and acquisitions division that will be headed up by Jeff Anderson, vice president, in the company?s New York office. The new division will initially … |
RAND Study: Ending Individual Mandate Would Cut Coverage, Hike Government?s Costs- Tue, 21 Feb 2012 20:00:12 +0000Eliminating the federal mandate in the new healthcare law that every individual carry health insurance would sharply lower the number of people gaining coverage, but would not dramatically increase the cost of buying policies through new insurance exchanges, a new … |
HCC Specialty Offers Excess Product Contamination Coverage- Tue, 21 Feb 2012 16:20:23 +0000HCC Specialty?s Crisis Management Division will begin offering excess product contamination limits for large U.S. food and beverage companies. The company’s ?Super Excess? facility will allow the company to participate on an excess basis on high-limit layered programs for which … |
