MA H1263

Limits territorial rating weight to maximum 75% based on individual territory loss costs, requiring at least 25% weight be assigned to statewide average loss costs for private passenger auto insurance premiums

Prohibits insurers from implementing classification plans or rating factors that circumvent or diminish the territorial weighting requirements

Requires the Commissioner of Insurance to disapprove or suspend rate filings that do not conform to the new territorial weighting standards, deeming non-conforming rates "unfairly discriminatory"

Mandates all licensed private passenger auto insurers submit compliant rate filings within 60 days of the law's passage

Grants the Commissioner authority to promulgate additional regulations to implement the law's goal of reducing premium differences between territories