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Panel advances bill that would force rate decreases when insurers consistently overperform
House Insurance Committee · February 20, 2026
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Summary
House Bill 1274 would require insurers to file rate decreases if their actual profits exceed the anticipated profit in rate filings by 5% or more for three consecutive years; the committee approved the measure after brief questioning about historical precedent.
Representative Matt Reeves introduced House Bill 12 74, saying it was requested by Insurance Commissioner John King and modeled on statutes used in other states to accelerate rate relief for consumers. "If the…
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