Filing at a Glance - AM Best Company

[Pages:235]SERFF Tracking #: MMGC-129623501 State Tracking #:

Company Tracking #: MMGC-129623501

State:

Maine

Filing Company:

TOI/Sub-TOI:

04.0 Homeowners/04.0000 Homeowners Sub-TOI Combinations

Product Name:

Homeowners Program

Project Name/Number: /

MMG Insurance Company

Filing at a Glance

Company: Product Name: State: TOI: Sub-TOI: Filing Type: Date Submitted: SERFF Tr Num: SERFF Status: State Tr Num: State Status: Co Tr Num:

Effective Date Requested (New): Effective Date Requested (Renewal): Author(s): Reviewer(s): Disposition Date: Disposition Status: Effective Date (New): Effective Date (Renewal):

MMG Insurance Company Homeowners Program Maine 04.0 Homeowners 04.0000 Homeowners Sub-TOI Combinations Rate/Rule 07/07/2014 MMGC-129623501 Closed-Approved

Approved MMGC-129623501

10/15/2014

10/15/2014

Ellen Fitzsimmons Michael Blake (primary) 07/15/2014 Approved 10/15/2014 10/15/2014

PDF Pipeline for SERFF Tracking Number MMGC-129623501 Generated 07/18/2014 12:08 PM

SERFF Tracking #: MMGC-129623501 State Tracking #:

Company Tracking #: MMGC-129623501

State:

Maine

Filing Company:

TOI/Sub-TOI:

04.0 Homeowners/04.0000 Homeowners Sub-TOI Combinations

Product Name:

Homeowners Program

Project Name/Number: /

MMG Insurance Company

General Information

Project Name: Project Number:

Reference Organization: Reference Title: Filing Status Changed: 07/15/2014 State Status Changed: 07/15/2014 Created By: Ellen Fitzsimmons Corresponding Filing Tracking Number:

Status of Filing in Domicile: Pending Domicile Status Comments: Maine is domicile for MMG Insurance Company. Reference Number: Advisory Org. Circular:

Deemer Date: Submitted By: Ellen Fitzsimmons

Filing Description: The purpose of this filing is to revise base rates and rules applicable to Maine Homeowner policies. The proposed effective date of this filing is 10/15/2014.

Changes include:

?An overall rate change of +3.3% to the HO-02, HO-03 and HO-05 forms, 11.8% to the HO-4 form, and +8.8% to the HO-6 form. The combined rate impact is +3.6% ?A base rate change of +0.0% to the HO-02, HO-03 and HO-05 forms, 0.0% to the HO-4 form, and +8.4% to the HO-6 form. ?Introduction of age of dwelling rate factors for the dwelling forms (HO-2, HO-3 and HO-4, excluding mobilehomes) ?An increase in the minimum premium from $100 to $125

The attached exhibits document the indicated rate level need and the impacts of the proposed rate changes.

Company and Contact

Filing Contact Information Ellen Fitzsimmons, Actuary P.O. Box 729 44 Maysville St. Presque Isle, ME 04769-0729

Filing Company Information MMG Insurance Company P.O. Box 729 44 Maysville St Presque Isle, ME 04769-0729 (207) 764-6611 ext. [Phone]

Ellen.Fitzsimmons@ 877-768-7027 [Phone] 207-760-1028 [FAX]

CoCode: 15997 Group Code: -99 Group Name: FEIN Number: 01-0021090

State of Domicile: Maine Company Type: Property/Casualty State ID Number:

Filing Fees

Fee Required? Fee Amount: Retaliatory?

Yes $20.00 No

PDF Pipeline for SERFF Tracking Number MMGC-129623501 Generated 07/18/2014 12:08 PM

SERFF Tracking #: MMGC-129623501 State Tracking #:

Company Tracking #: MMGC-129623501

State:

Maine

Filing Company:

TOI/Sub-TOI:

04.0 Homeowners/04.0000 Homeowners Sub-TOI Combinations

Product Name:

Homeowners Program

Project Name/Number: /

MMG Insurance Company

Fee Explanation:

Per Company: Company MMG Insurance Company

Maine is the domicile for MMG Insurance Company. Maine filing fee = $20.00 Yes

Amount $20.00

Date Processed 07/07/2014

Transaction # 83771829

PDF Pipeline for SERFF Tracking Number MMGC-129623501 Generated 07/18/2014 12:08 PM

SERFF Tracking #:

MMGC-129623501

State Tracking #:

State: TOI/Sub-TOI: Product Name: Project Name/Number:

Maine 04.0 Homeowners/04.0000 Homeowners Sub-TOI Combinations Homeowners Program /

Filing Company:

Company Tracking #:

MMGC-129623501

MMG Insurance Company

Correspondence Summary

Dispositions

Status Approved

Created By Michael Blake

Filing Notes

Subject Age of Dwelling Factors - Typographical Error.

Note Type Note To Reviewer

Created On 07/15/2014

Date Submitted 07/15/2014

Created By Ellen Fitzsimmons

Created On 07/17/2014

Date Submitted 07/17/2014

PDF Pipeline for SERFF Tracking Number MMGC-129623501 Generated 07/18/2014 12:08 PM

SERFF Tracking #:

MMGC-129623501

State Tracking #:

State: TOI/Sub-TOI: Product Name: Project Name/Number:

Maine 04.0 Homeowners/04.0000 Homeowners Sub-TOI Combinations Homeowners Program /

Filing Company:

Company Tracking #:

MMGC-129623501

MMG Insurance Company

Disposition

Disposition Date: 07/15/2014 Effective Date (New): 10/15/2014 Effective Date (Renewal): 10/15/2014 Status: Approved

Comment:

Overall %

Company

Indicated

Name:

Change:

MMG Insurance Company 4.100%

Schedule Supporting Document Supporting Document Supporting Document Supporting Document Supporting Document Supporting Document Supporting Document Supporting Document Rate Rate Rate

Overall % Rate Impact: 3.600%

Written Premium Change for this Program: $741,980

Number of Policy Holders Affected for this Program: 35,186

Written Premium for this Program: $20,610,552

Maximum % Change (where req'd): 25.000%

Minimum % Change (where req'd): -20.000%

Schedule Item Actuarial Justification for Rate Advisory Organization Loss Cost Multiplier Form Expense Exhibit Experience Exhibit Explanatory Memorandum Prior Filing Reference Revised Rate Pages Revised Rule(s) ME Homeowners State Exception Pages ME Homeowners Rate Pages Homeowners General Rules

Schedule Item Status Approved Approved Approved Approved Approved Approved Approved Approved Approved Approved Approved

Public Access Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes

PDF Pipeline for SERFF Tracking Number MMGC-129623501 Generated 07/18/2014 12:08 PM

SERFF Tracking #: MMGC-129623501 State Tracking #:

Company Tracking #: MMGC-129623501

State:

Maine

Filing Company:

TOI/Sub-TOI:

04.0 Homeowners/04.0000 Homeowners Sub-TOI Combinations

Product Name:

Homeowners Program

Project Name/Number: /

MMG Insurance Company

Note To Reviewer

Created By: Ellen Fitzsimmons on 07/17/2014 10:12 AM Last Edited By: Ellen Fitzsimmons Submitted On: 07/17/2014 10:13 AM Subject: Age of Dwelling Factors - Typographical Error. Comments: Please note that there is a typographical error in the filing memorandum and filing description regarding the proposed age of dwelling factors. The factors apply to dwelling forms HO-2, HO-3 and HO-5, not HO-2, HO-3 and HO-4 as stated in the memo. The underwriting rules are correct as filed.

We apologize for any confusion.

PDF Pipeline for SERFF Tracking Number MMGC-129623501 Generated 07/18/2014 12:08 PM

SERFF Tracking #:

MMGC-129623501

State Tracking #:

State: TOI/Sub-TOI: Product Name: Project Name/Number:

Maine 04.0 Homeowners/04.0000 Homeowners Sub-TOI Combinations Homeowners Program /

Filing Company:

Company Tracking #:

MMGC-129623501

MMG Insurance Company

Rate Information

Rate data applies to filing.

Filing Method: Rate Change Type: Overall Percentage of Last Rate Revision: Effective Date of Last Rate Revision: Filing Method of Last Filing:

Overall %

Company

Indicated

Name:

Change:

MMG Insurance Company 4.100%

Overall % Rate Impact: 3.600%

Prior Approval Increase -0.800% 10/01/2013 Prior Approval

Company Rate Information

Written Premium Change for this Program: $741,980

Number of Policy Holders Affected for this Program: 35,186

Written Premium for this Program: $20,610,552

Maximum % Change (where req'd): 25.000%

Minimum % Change (where req'd): -20.000%

PDF Pipeline for SERFF Tracking Number MMGC-129623501 Generated 07/18/2014 12:08 PM

SERFF Tracking #:

MMGC-129623501

State Tracking #:

State: TOI/Sub-TOI: Product Name: Project Name/Number:

Maine 04.0 Homeowners/04.0000 Homeowners Sub-TOI Combinations Homeowners Program /

Filing Company:

Company Tracking #:

MMGC-129623501

MMG Insurance Company

Rate/Rule Schedule

Item No. 1

Schedule Item

Status

Exhibit Name

Approved 07/15/2014 ME Homeowners State Exception Pages

Rule # or Page # ME 1 through 38

2

Approved 07/15/2014 ME Homeowners Rate Pages pp 1 through 8

3

Approved 07/15/2014 Homeowners General Rules HO 1 through 58

Rate Action Replacement

Replacement Replacement

Previous State Filing Number MMGC-128864144

MMGC-128864144 MMGC-128126645

Attachments

HO Manual - ME State Exception Pages 2014-1015.pdf

ME Homeowner Rate Pages 2014-10-15.pdf

HO Manual General Rules2014-10-15.pdf

PDF Pipeline for SERFF Tracking Number MMGC-129623501 Generated 07/18/2014 12:08 PM

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