2005 Senate Bill 38

Cap geographic insurance premium variations

Introduced in the Senate

Jan. 25, 2005

Introduced by Sen. Samuel B. Thomas (D-4)

To establish “caps” on the extent to which auto insurance companies may set different premium prices on the basis of where an insured person lives, even if the level of claims in different areas varies by more than the amount of the proposed price difference caps. If that were the case, the bill would require people in areas with lower claim levels to subsidize those in areas with higher claim levels.

Referred to the Committee on Banking and Financial Institutions