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Bill to create insurance consumer advocate and tighten rate reviews draws support
Summary
Representative Tanya Miller presented a substitute to HB733 to establish an Insurance Consumer Advocate with authority to review cancellations and rate filings, demand public filings for large increases (a 10% trigger) and participate in hearings; the Consumer Federation of America urged support and members pressed questions on independence and staffing.
Representative Tanya Miller introduced the substitute to House Bill 733 (LC# 521008S), the Insurance Consumer Protection Act, telling the Budget and Fiscal Affairs Oversight committee the measure creates an Insurance Consumer Advocate whose sole job is to represent consumers in regulatory rate reviews, complaints and hearings.
"This person's only job is to represent insurance consumers," Miller said, describing a role that could examine cancellations and nonrenewals, participate in hearings, subpoena evidence and publish an annual report. She said the advocate would be…
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