Auto Insurance Excess Profits Act; enact

Summary

The bill would force private passenger auto insurers to report detailed loss data and return any profit that exceeds a calculated benchmark. It also establishes minimum reimbursement rates and payment procedures for out‑of‑network ambulance services, and adds a set of rights for life‑insurance policyholders, including annual statements and a standardized form for sharing policy information. The measures aim to protect consumers from overcharging and improve transparency across several insurance types.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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