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2016 SESSION
HB 324 Insurance rates; authority of an insurer to limit decreases.
Introduced by: Terry G. Kilgore | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED HOUSE:
Insurance rates; authority to limit decreases. Authorizes an insurer to file rate or supplementary rate information for its renewal polices that permits the insurer to limit any rate decrease that would otherwise be applicable to the policies, provided that the insurer is also limiting any rate increase that would otherwise be applicable. The provision does not apply to workers' compensation or employers' liability insurance. The bill has a delayed effective date of September 1, 2016.
SUMMARY AS INTRODUCED:
Insurance rates; authority to limit decreases. Authorizes an insurer to file rate or supplementary rate information that allows the insurer to limit for its renewal policies any rate decrease that would otherwise be applicable to such policies. Currently, an insurer may file such information allowing the insurer to limit rate increase otherwise applicable to renewal policies. The provision does not apply to workers' compensation or employers' liability insurance.