Citizens,
Please click below for the Homeowners Bill I have been working on. I sent my Bill to Robert Hunter, Director of Insurance for the Consumer Federation of America to review and make comments. I am posting the Bill with Mr. Hunters comments ( Red Bold Print)
Mr. Hunter is a strong advocate for Consumers on Insurance issues and is asked frequently to testify in Washington on Insurance matters.
He is a supporter of our efforts to reform Homeowner Insurance in Coastal MA. We will be working his suggestions into appropriate language before final submittal.
I met with the Financial Services Committee Chairman at the State House and he feels we should select several parts of the Bill to bring forward first and concentrate on so as to gain passage.
We do want movement on this important issue.
Click for Homeowners Bill
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HOW YOU CAN HELP - Please print out all sample letters and sign them with your name and address. If you live out of the coastal area, put your coastal property address on as well. Mail these to addresses found on our contact page.
You may add any insurance history to these letters if you wish.
We continue to demand Homeowners Insurance Reform in Coastal MA.
No Major Storms again for 2008. Yet, coastal rates remain the highest in the State.
Our approach to achieve Reform will be to:
The Duties and responsibility of the Commissioner to protect citizens exist under MA General Laws. We want implementation of these regulations by the Commissioner so that:
Premiums shall not be excessive and premiums reduced when proven excessive.
We want a meaningful appeal process for citizens on replacement values.
The Commissioner requires all data from insurers when reviewing a rate increase and we want expenses, re-insurance contracts, profits to be part of this data and make these public.
The Commissioner shall require Insurers to give written proof the models used for predicting hurricane loss, have used MA data and features.
Clarify that wind deductibles shall be triggered by Hurricanes only and capped the deductibles at 1%.
Hold public hearings for all rate hike requests.
ASK FOR CONTINUED HELP FROM THE ATTORNEY GENERAL to oversee the protection of coastal citizens from excessive rate increases and shift of risk to citizens by Insurers.
The Cape and Islands had almost the lowest number of wind claims in the state in 2007 which has been typical of the records shown in the past 15 years. Yet, according to the premiums charged by the Fair Plan and the Private Insurers, we pay the highest rates in the state.
Citizens for Homeowners Insurance Reform, a grassroots organization which was created in October 2006 has over 6000 members and is working for reform to the homeowner insurance crisis in Coastal MA.
Sincerely yours,
Paula Aschettino
Chair/Founder
Citizens for Homeowners Insurance Reform
21 Smith Street
Eastham, MA 02642
508-240-5231
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