CT HB06866

Limits underwriting and rating factors for private passenger nonfleet automobile insurance policies issued or renewed on or after October 1, 2015 to only: driving history, annual miles driven, and years of driving experience.

Prohibits insurers from allocating producer commissions, premium taxes, underwriting profits, and contingencies as flat dollar amounts to base rates for private passenger nonfleet automobile insurance.

Requires insurers to allocate at least 90% of general expenses and other acquisition costs as flat dollar amounts to base rates for private passenger nonfleet automobile insurance.

Increases the minimum motor vehicle proof of financial responsibility for property damage from $10,000 to $25,000 effective October 1, 2015.

Repeals previous requirements for territorial classification weightings and prior approval of territorial changes by the Insurance Commissioner.