Commonwealth Automobile Reinsurers

Governing Committee Meeting - February 14, 2020

Counsel's Report
The Governing Committee approved a Limited Assignment Distribution Agreement between Pilgrim Insurance Company and the Foremost Insurance Company Grand Rapids, Michigan.

Commercial Program Oversight Committee
The Governing Committee approved the following:

  • An Additional Insured – Massachusetts endorsement (CR 99 02) for use with commercial residual market policies. The Committee approved an implementation date of 90 days after the date the endorsement is placed on file by the Division of Insurance.

  • The addition of Rule 37 – Additional Insured Endorsement – Massachusetts to the Commercial Automobile Insurance Manual, to provide direction relative to the use of endorsement CR 99 02. Servicing Carriers will be notified of the status of the Rule 37 filing with the Division of Insurance via CAR Bulletin.

  • A supplemental application to be used by Servicing Carriers on all new business policies to collect additional information to further evaluate a risk’s eligibility for placement in the commercial residual market. It is anticipated that the Governing Committee, at its April 15, 2020 meeting, will review modifications made to CAR’s manuals relative to the use and implementation of the application.

Financial Audit Committee
The Governing Committee was advised that Alexander, Aronson, Finning & Co. (AAFCPA) will issue a clean, unqualified review report as of and for the fiscal year ended September 30, 2019. Accordingly, the Governing Committee approved CAR's financial statements for the fiscal year ending September 30, 2019.