Current through Register 1538, January 3, 2025
Section 54.01 - Purpose and Scope(1)Purpose and Scope. The procedures established by 211 CMR 54.00 shall govern the administrative process by which an insurer or group of insurers authorized to write motor vehicle insurance may initiate the process of surrendering or non-renewing any or all licenses to engage in the business of insurance in the Commonwealth.(2)211 CMR 54.00 shall apply only when one or more of the licenses to be surrendered or non-renewed is a license to write motor vehicle insurance.(3) The purpose for codifying 211 CMR 54.00 is to prevent or limit massive market disturbance and to preserve the rights of existing policyholders and others affected, while permitting insurers to phase out their business in an orderly fashion and consistently with the satisfaction of their obligations under applicable laws.Amended by Mass Register Issue 1320, eff. 8/26/2016.