OR HB2563

Requires insurers to provide written explanations for premium increases on homeowner and personal auto insurance policies when policyholders submit a written request, with responses due within 20 days

Explanations must identify up to four factors that most significantly contributed to the increase, including rating variables like driving record, claims history, credit score, property location/value, and demographic factors

Renewal notices and first premium invoices must include a prominent statement informing policyholders of their right to request an explanation of any premium increase

Exempts new policies, specialty vehicles (boats, motorcycles, RVs, antiques), health/life/disability insurance, personal umbrella policies, and insured-initiated coverage changes

Becomes operative September 1, 2026, with the Department of Consumer and Business Services authorized to adopt implementing rules including periodic data reporting requirements