Commonwealth Automobile Reinsurers

Governing Committee Meeting - November 19, 2018

President’s Report
Ms. Natalie Hubley, CAR’s President, reported that the annual review of CAR advisory committee membership is in process and that Governing Committee Chair Thomas DePaulo will also be establishing a new advisory committee to evaluate a potential reinsurance arrangement for CAR. Requests for participation on CAR committees should be made no later than December 3, 2018. Refer to the CAR and MAIP homepages for further information.

Counsel’s Report
On a unanimous vote, the Governing Committee approved the Limited Assignment Distribution Agreement between Pilgrim Insurance Company and the Trumbull Insurance Company (TIC).

Actuarial Committee
The Governing Committee approved the Actuarial Committee’s proposed modifications to Rule 29 – Assignment Process of CAR’s Rules of Operation, for policies effective April 1, 2019 and subsequent, and recommended the amended Rule be filed with the Division of Insurance. Detailed information will be distributed to the industry as a CAR Bulletin upon filing with the Division of Insurance.

Compliance and Operations Committee
The Governing Committee unanimously approved modifications to the Private Passenger and Commercial Statistical Plan to add new out-of-state Territory and Premium/Accident Town Codes to represent the states of New Jersey and Pennsylvania. Additionally, the Distributional Analysis Penalty Program has been added to the Statistical Data Quality Programs contained in the Private Passenger and Commercial Statistical Plans. The Committee directed staff to file the proposed modifications with the Division of Insurance. For further information, refer to Accounting and Statistical Notice No. 624.