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DE SB81
Bill
Status
Passed
7/30/2021
Primary Sponsor
Spiros Mantzavinos
Click for details
AI Summary
- Allows insurance deviations from rating organization filings to remain effective continuously until terminated with Commissioner approval or modified, rather than expiring after one year
- Permits insurers to apply to the Commissioner for permission to file deviations from class rates, schedules, rating plans, or rules for any kind of insurance or class of risk
- Requires the Commissioner to hold a hearing with at least 10 days' notice before deciding on deviation applications, unless the rating organization waives the hearing
- Authorizes the Commissioner to approve deviations if justified based on available statistics and ratemaking principles, or deny them if resulting premiums would be excessive, inadequate, or unfairly discriminatory
- Makes technical corrections to conform statutory language to Delaware Legislative Drafting Manual standards
Legislative Description
An Act To Amend Title 18 Of The Delaware Code Relating To Insurance Rate Filings.
Last Action
Signed by Governor
7/30/2021
Committee Referrals
Economic Development/Banking/Insurance & Commerce4/1/2021
Banking, Business & Insurance3/4/2021
Full Bill Text
No bill text available