What do you think would happen to me, A FAIR Plan policyholder, if I lied and added extra costs and exaggerated actual damages when filing an insurance claim?
I’d be charged with fraud, that’s what would happen.
Fraud is a deception deliberately practiced in order to secure unfair or unlawful gain.
What do you think happened to the FAIR Plan during hearings on their requested rate increase when testimony revealed they lied and included costs such as $13 million they did not spend on reinsurance and exaggerated other costs such as post-storm construction materials demand surge?
The Division of Insurance denied their rate increase request, that’s what happened.
Insurance terms can be challenging to understand-for example, when the insurance industry is doing the talking, lying and exaggerating is called “hurricane modeling”.
I regret I must report that no fraud charges were filed, but Insurance Commissioner Julianne M. Bowler working with Attorney General Tom Reilly denied MPIUA\’s rate increase request stating in their decision “The FAIR Plan filing included the cost of reinsurance which they did not purchase and certain nonmodeled losses that were determined to be outside the range of reasonableness. The Commissioner determined that these elements of the filing would result in excessive rates in some territories in the Commonwealth and thus could not be approved under the statute.”
The Andover Group was the first insurance company to non-renew thousands of homeowner insurance policies on Cape Cod. Donald Vose manages the Andover Group and is also the most influential member of the FAIR Plan Board of Directors. As of 2004, the FAIR Plan Board of Directors did not include any representatives from Cape Cod.
Policyholders of a mutual insurance company actually own the company. By non-renewing Cape Cod policyholders, Donald Vose of the Andover Group and other mutual insurance companies have stolen Cape Cod policyholder’s ownership interest in these companies. Now Donald Vose and his cronies want to continue robbing Cape Codders through the FAIR Plan’s inflated rates.
Good for Insurance Commissioner Julianne M. Bowler and Attorney General Tom Reilly for protecting insurance consumers from predatory insurance executives such as Donald Vose of the Andover Group and his insurance company cronies who control the FAIR Plan.
The FAIR Plan has 30 days to respond to the Division of Insurance decision-let’s hope they finally decide to play FAIR.
Jane Logan, CPCU,
MA Insurance Broker
Insurance Consumer Advocate
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FAIR Plan rates UNFAIR
What do you think would happen to me, A FAIR Plan policyholder, if I lied and added extra costs and exaggerated actual damages when filing an insurance claim?
I’d be charged with fraud, that’s what would happen.
Fraud is a deception deliberately practiced in order to secure unfair or unlawful gain.
What do you think happened to the FAIR Plan during hearings on their requested rate increase when testimony revealed they lied and included costs such as $13 million they did not spend on reinsurance and exaggerated other costs such as post-storm construction materials demand surge?
The Division of Insurance denied their rate increase request, that’s what happened.
Insurance terms can be challenging to understand-for example, when the insurance industry is doing the talking, lying and exaggerating is called “hurricane modeling”.
I regret I must report that no fraud charges were filed, but Insurance Commissioner Julianne M. Bowler working with Attorney General Tom Reilly denied MPIUA\’s rate increase request stating in their decision “The FAIR Plan filing included the cost of reinsurance which they did not purchase and certain nonmodeled losses that were determined to be outside the range of reasonableness. The Commissioner determined that these elements of the filing would result in excessive rates in some territories in the Commonwealth and thus could not be approved under the statute.”
The Andover Group was the first insurance company to non-renew thousands of homeowner insurance policies on Cape Cod. Donald Vose manages the Andover Group and is also the most influential member of the FAIR Plan Board of Directors. As of 2004, the FAIR Plan Board of Directors did not include any representatives from Cape Cod.
Policyholders of a mutual insurance company actually own the company. By non-renewing Cape Cod policyholders, Donald Vose of the Andover Group and other mutual insurance companies have stolen Cape Cod policyholder’s ownership interest in these companies. Now Donald Vose and his cronies want to continue robbing Cape Codders through the FAIR Plan’s inflated rates.
Good for Insurance Commissioner Julianne M. Bowler and Attorney General Tom Reilly for protecting insurance consumers from predatory insurance executives such as Donald Vose of the Andover Group and his insurance company cronies who control the FAIR Plan.
The FAIR Plan has 30 days to respond to the Division of Insurance decision-let’s hope they finally decide to play FAIR.
Jane Logan, CPCU,
MA Insurance Broker
Insurance Consumer Advocate
I would like to share my insurance rates with your. I am not on the ocean…..
2004/2005 – $ 1,838
2005/2006 $ 2,026.99
2006/2007 – $ 3,065.00
2007/2008 – $ 3,992.00
HOW MUCH MORE DO THEY NEED.