Mass. Gen. Laws ch. 175 § 94F
The commissioner shall examine the application and declaration and all documents filed in connection therewith; and, if he is satisfied that they comply with the law and that the allegations of fact contained therein are true, he shall issue to the attorney in fact a license to transact business, authorizing him to execute for the subscribers under the name designated, such contracts of reciprocal or inter-insurance as are authorized by this chapter, which license shall be subject to section five; provided, however, that no license for a reciprocal insurance exchange consisting of subscribers who are commercial fishing boat owners shall be issued until the applicant has submitted to the commissioner the standards of risk management to be used in evaluating admissions and policy renewals, and until such standards have been certified by the commissioner as being reasonably calculated to provide a risk low enough to permit the reciprocal insurance exchange to remain solvent.
Mass. Gen. Laws ch. 175, § 94F