DE HB228

Extends the advance filing requirement for insurance rate filings from 30 days to 60 days prior to the proposed effective date.

Authorizes the Commissioner of Insurance to extend the review period up to 90 days after receipt of a filing and postpone the effective date pending completion of the extended review.

Establishes that filings are deemed to meet statutory requirements at the expiration of the 60-day period following the filing date unless the Commissioner disapproves or notifies the insurer that additional review time is needed within 45 days.

Requires that rate filings subject to formal administrative hearing may not become effective until a final order is issued, with the final order to be issued within 60 days after the entire hearing record is presented to the Commissioner.

Clarifies that the Commissioner must issue a disapproval order specifying the reasons a filing fails to meet legal requirements and when previously effective filings will no longer be valid.