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Senate adopts rate-transparency provisions requiring insurers to file annual reports
Summary
Senate Bill 136’s conference committee report was adopted; the measure requires admitted insurers to file annual rate-transparency reports with the insurance commissioner, including a graphical breakdown of rating components and empowers the commissioner to disapprove noncompliant filings.
Senate Bill 136, a measure addressing rate transparency for insurers, moved through the Senate with adoption of the conference committee report on the floor.
Sponsor described the measure as requiring "every admitted insurer, licensed or otherwise, for homeowners or private passenger automobile insurance" to file an annual rate-transparency report based on the insurer’s most recently approved rate by Jan. 1 each year.…
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