Commonwealth Automobile Reinsurers

PP Residual Market Rates Placed on File by DOI - October 30, 2017

On October 27, 2017, the Division of Insurance placed CARís Private Passenger Residual Market rates and rating manual on file for policies effective February 1, 2018. The base rates were amended and result in an overall rate increase of 4.6%. Pursuant to G.L. c. 175, ß113H, these rates will be charged to consumers only in circumstances where these rates do not "exceed the premium charges, which would be used by each risk's Servicing Carrier for that risk if such risk were written on a voluntary basis."

For additional information, please refer to Bulletin No. 1040 distributed on October 30, 2017.