Introduced
by
To force auto insurance companies to lower auto insurance rates by 20 percent, unless they can prove that a different level is “actuarially essential.” The bill would also give the state insurance commission much more authority to regulate insurance rates, require insurance companies to file much more paperwork, and limit the ability of insurers to set prices and policies in a variety of ways specified in the bill. Among other things the bill would require all insurance companies to use a uniform territorial rating system devised by the state insurance commission, which would be based on criteria specified in the bill. It would also establish penalties for soliciting, paying, or receiving a kickback or bribe in connection with an insurance claim for automotive repair.
Referred to the Committee on Insurance
