Introduced
by
To prohibit auto or home insurance companies from charging different rates for the same coverage unless the differences are based on actuarial data, including differences in losses, expenses, or the uncertainty of loss for the individuals or risks to which the rates apply. Also, to require state approval of all auto and home insurance rates, and to require insurance companies to provide annual reports to the state Insurance Commission that contain the number of claims in which a claimant received benefits, the number of claims for which no benefits were paid, the number for which litigation was required, and the average time required between claims and their resolution.
Referred to the Committee on Banking and Financial Institutions
