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Committee hears bill to streamline rate filings for experience-rated group disability insurance
Summary
House Bill 1230 would allow insurers to submit single filings for experience-rated group disability income plans (instead of separate filings per group) while providing the Office of the Insurance Commissioner enough detail to replicate rates; insurers testified in support and no vote was recorded.
House Bill 1230, a measure to clarify and streamline rate-filing procedures for experience-rated group disability income insurers, was the subject of a public hearing Wednesday before the Senate Business, Financial Services, Gaming & Trade Committee.
Committee staff (John Kim) briefed senators that the bill aligns the statutory filing process so insurers that develop rates based on a single group's experience can submit a single…
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