HB 5737 Summary

• Requires insurers to file manuals of classification, rules, rates, and rating plans with the director before implementation for automobile and home insurance.

• Establishes that insurers must maintain rates at all times for all eligible persons meeting their underwriting criteria in any part of the state where they operate.

• Creates new section 2108a requiring the department to post a comparison of insurance rates on its website beginning January 1, 2017, and annually thereafter, using sample policy rates for consumer comparison shopping.

• Imposes civil fine of up to $100,000 for insurers that knowingly include false or misleading information in rate filings.

• Increases penalties for violations of section 2474, including up to $5,000 per 30-day period (capped at $100,000) for willful withholding of information and up to $100,000 for knowingly providing false or misleading information.