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Committee reports bill requiring insurers to provide rate-transparency reports with filings and to consumers
Summary
Senate Bill 136 was reported favorable after sponsor testimony. The measure would require insurers to include rate-transparency reports with certain rate filings and to give consumers personalized rate-transparency reports upon new policy offers or renewals, including cost breakdowns and other disclosures.
The Senate Insurance Committee reported Senate Bill 136 favorable after the sponsor described a requirement that insurers include a rate-transparency report with rate filings for private passenger auto and homeowners insurance and provide consumers a personalized report when offering a new policy or at renewal.
The sponsor said the reports would list items such as the cost of reinsurance, claims costs,…
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