Senate advances bill requiring annual insurer comparison tables; vote 22–2

The Utah Senate advanced Senate Bill 10, a consumer‑oriented measure that would require the insurance commissioner to publish an annual table comparing premiums for hypothetical risks across top insurers and to include a complaint‑ratio metric intended to help consumers compare companies.

Lane Beatty, committee chairman, described SB10 as a tool to aid consumers shopping for homeowners and auto insurance. The bill originally called for the top 50 insurers but an amendment reduced that to the top 20 to avoid including companies with very few policies; the sponsor said the top five insurers account for about 80–90% of premiums in the state.

The committee report included a sunset provision (July 1995) and an amended fiscal note that reduced the physical‑printing cost estimate from $61,000 to $24,000; sponsors said they would work with the insurance commissioner to further lower the fiscal note possibly into the $9,999 range by reducing printing costs and relying on press distribution.

Senators questioned how the insurance department would distribute the publication and whether companies might use lower-ranked comparisons as advertising. The sponsor emphasized that the publication is explicitly a comparison tool and not a guaranteed rate listing and noted that many counties and media outlets have already published similar comparison charts in the past.

A roll‑call vote to read SB10 for the third time was recorded; the clerk announced the tally as 22 ayes and 2 noes. The bill was placed on the third‑reading calendar; Senator McMoem then moved to circle (table) the bill until an amended fiscal note was available, and that motion carried.

Next steps: SB10 awaits third reading; sponsors expect to coordinate an amended fiscal note with the Department of Finance and the insurance commissioner before final action.