MO HB574

Requires insurers to notify the Director of Insurance in writing at least 60 days before implementing premium rate increases or decreases of 15% or more, including detailed descriptions and actuarial justification.

Mandates the Director to schedule a public hearing within 30 days of receiving notice and publish hearing information for public access to insurer-submitted materials.

Permits insurers and members of the public to present information supporting or opposing proposed rate changes at the hearing.

Requires the Director to determine within 20 days after the hearing whether the proposed rate is justified, prohibiting rates that are excessive, inadequate, or unfairly discriminatory.

Allows insurers to appeal the Director's decision under chapter 536 of Missouri law.