SB 92
Authorizes a proposed increase or decrease in a rate for certain kinds and lines of insurance to be implemented pending approval or disapproval by the Commissioner of Insurance. (BDR 57-93)
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Sign in to take action- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Bill overview
This bill allows insurance companies to implement proposed rate increases or decreases while the state’s Commissioner of Insurance reviews and decides on those changes. Insurers can file for these changes, and the Commissioner must approve or disapprove them within 30 days, unless an earlier effective date is requested. If the Commissioner disapproves a rate change, they must issue an order within 90 days specifying the date the disapproved rate can no longer be used, and the Commissioner must notify the insurer of the date. The bill also clarifies the process for filing rate changes and ensures that insurers can implement changes pending approval.
Sponsors
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Primary sponsor
Carrie Ann Buck
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