HB93 Alabama 2015 Session

Sponsors

Session

Regular Session 2015

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 for private personal automobile insurance 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 private personal automobile 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 15 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