Section 79.03 - Competitive Market(1)Presumption. A Competitive Market is presumed to exist unless the Commissioner, after a hearing pursuant to M.G.L. c. 175E, § 5, determines that competition in the private passenger motor vehicle insurance market is, with respect to any territory or to any kind, subdivision or class of insurance, either:(a) insufficient to assure that Rates will not be excessive; or(b) so conducted as to be destructive of competition or detrimental to the solvency of Insurers, and the Commissioner issues findings of fact, conclusions and orders to that effect. Any such determination shall expire no later than one year after issuance.(2)Standard. In determining whether competition, with respect to any territory or to any kind, subdivision or class of insurance, is either:(a) insufficient to assure that Rates will not be excessive; or(b) so conducted as to be destructive of competition or detrimental to the solvency of Insurers, the Commissioner shall consider relevant tests of workable competition pertaining to market structure, market performance and market conduct and the practical opportunities available to consumers in the market to acquire pricing and other consumer information and to compare and obtain insurance from competing Insurers. Such tests may include, but are not limited to, the following: size and number of Insurers actively engaged in the market; market shares and changes in market shares of Insurers; ease of entry and exit from the market; underwriting restrictions; whether profitability for Insurers generally in the private passenger motor vehicle insurance market is unreasonably high; availability of consumer information concerning the product and sales outlets or other sales mechanisms; and efforts of Insurers to provide consumer information.(3)Monitoring Competition. The Commissioner shall monitor the Competitive Market. The Commissioner shall utilize existing relevant information, analytical systems and other sources; cause or participate in the development of new relevant information, analytical systems and other sources; or rely on some combination thereof. Such activities may be conducted internally within the Division, in cooperation with other state insurance departments and/or the National Association of Insurance Commissioners, through outside contractors and/or in any other appropriate manner.(4)Hearing. The Commissioner may at any time, with 21 days notice to the public, hold a hearing under M.G.L. c. 175E, § 5, to determine whether the Competitive Market is meeting the requisite statutory requirements under M.G.L. c. 175E, § 5.Amended by Mass Register Issue 1355, eff. 12/29/2017.