HB265 Alabama 2014 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2014
Title
Insurance rate increase by personal line insurer, may take effect immediately unless objected to by the Commissioner of Insurance
Description
<p class="bill_description"> Under existing law, a rate filing made by an
insurer of personal lines insurance written on
risks in this state that provides for an overall
statewide rate increase or decrease takes effect
upon approval by the Commissioner of Insurance</p><p class="bill_description">
This bill would provide that such a rate
filing may take effect the date it is filed</p><p class="bill_description">
This bill would provide that a filing
submitted pursuant to this act shall be considered
in compliance with state law unless the
Commissioner of the Department Insurance
determines that the filing is unreasonably high,
inadequate, or unfairly discriminatory</p><p class="bill_entitled_an_act"> Relating to the Department of Insurance; to provide
that a rate filing made by an insurer of personal lines
insurance written on risks in this state who is authorized to
do business in this state that provides for an overall
statewide rate increase or decrease of no more than 12 percent
in the aggregate for all coverages may take effect the date it
is filed; and to provide that a filing submitted pursuant to
this act shall be considered in compliance with state law
unless the Commissioner of the Department of Insurance
determines that the filing is unreasonably high, inadequate,
or unfairly discriminatory.
</p>
Subjects
Insurance
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| January 16, 2014 | H | Read for the first time and referred to the House of Representatives committee on Insurance |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB265 Alabama 2014 Session - Introduced |