Insurance; property and casualty; rates; filing; Insurance Commissioner; effective date.

Summary

The legislation amends the Property and Casualty Competitive Loss Cost Rating Act, updating dozens of definitions that insurers and the Insurance Commissioner use when filing and evaluating rates. By clarifying terms such as “advisory organization,” “affiliated insurance group,” and “classification system,” the bill aims to make the ratemaking process more consistent and transparent for insurers, rating bodies, and consumers.

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

Topics

Share