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2000 SESSION
SB 587 Insurance rate & form regulation; exempting large commercial risks.
Introduced by: Thomas K. Norment, Jr. | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Insurance rate and form regulation; exempting large commercial risks. Provides an exemption for insurers of large commercial risks from State Corporation Commission approval of policy forms and endorsements. A large commercial risk must employ a full-time risk manager and meet certain revenue and employment requirements for the exemption to apply. The exemption does not apply to rates and forms for workers’ compensation, professional liability, and commercial automobile policies.
SUMMARY AS PASSED SENATE:
Insurance rate and form regulation; exempting large commercial risks. Provides an exemption for insurers of large commercial risks from State Corporation Commission approval of policy forms and endorsements. A large commercial risk must employ a full-time risk manager and meet certain revenue and employment requirements for the exemption to apply. The exemption does not apply to rates and forms for workers’ compensation, professional liability, and commercial automobile policies.
SUMMARY AS INTRODUCED:
Insurance rate and form regulation; exempting large commercial risks. Provides an exemption for insurers of large commercial risks from State Corporation Commission approval of policy forms and endorsements. A large commercial risk must employ a full-time risk manager and meet certain revenue and employment requirements for the exemption to apply. The exemption does not apply to rates and forms for workers’ compensation, professional liability, and commercial automobile policies.