HB265 Alabama 2014 Session

Summary

Primary Sponsor

Greg Wren

Republican

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

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.

This bill would provide that such a rate filing may take effect the date it is filed.

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.

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Subjects

Insurance