Insurance; requiring certain filings; establishing requirements to determine excessive profit; requiring return of certain amounts. Effective date.

Summary

The bill would make personal‑auto insurance companies file detailed premium, loss, expense, and dividend data each year. If their underwriting gain exceeds a set benchmark, the insurer must refund the excess to policyholders as cash or credit. The refunds would be treated as dividends and overseen by the Insurance Commissioner.

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

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