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CT HB07002

Bill

Official Source

Status

Passed

6/27/2017

Primary Sponsor

Insurance and Real Estate Committee

Click for details

Origin

House of Representatives

2017 General Assembly

AI Summary

  • Extends the deadline for personal risk insurance rate filings from July 1, 2017 to July 1, 2021
  • Allows insurers to file rates with the Insurance Commissioner that take effect immediately upon filing, subject to limitations
  • Caps state-wide rate changes at 6 percent aggregate increase or decrease, with a maximum 15 percent increase in any individual territory
  • Permits no more than one rate filing per insurer within any 12-month period, unless combined filings do not exceed the 6 percent state-wide and 15 percent territorial limits
  • Exempts residual market rates and individual insured basis rates from these percentage limitations

Legislative Description

An Act Concerning Personal Risk Insurance Rate Filings.

Last Action

Signed by the Governor

6/27/2017

Committee Referrals

Insurance and Real Estate2/1/2017

Full Bill Text

No bill text available