House Bill 5538 Summary

• Changes terminology throughout section 3104 from "shall" to "must" and updates references from "commissioner" to "director of the department" for administrative consistency.

• Requires the catastrophic claims association to disclose annually to the public on its website all data used in computing premiums within 15 days after charging members, including actuarial computations, loss calculations, economic assumptions, and supporting documentation.

• Specifies detailed disclosure requirements including actuarial tables, discount rates, inflation forecasts, loss development analysis, trend analysis, and explanatory memoranda used in premium determinations.

• Maintains existing provisions regarding the catastrophic claims association's structure, membership requirements, indemnification limits (ranging from $250,000 to $500,000+ depending on policy issue dates), board composition, and operations.

• Updates definition of "consumer price index" to reference the United States Department of Labor, Bureau of Labor Statistics and requires certification by the director of the department rather than the commissioner.