Requires the insurers renewing homeowners' or private passenger motor vehicle insurance to include the policyholder's premium for policy last issued by the insurer.
Insurers to prominently display prior premium in close proximity to renewal premium.
Authorizes commissioner to consider accepted actuarial standards in determining rates, requires disapproval of rate if excessive, inadequate, or unfairly discriminatory.
Excessive or discriminatory rates to be disapproved regardless of market conditions.
Commissioner to determine whether information submitted by an insurer or filer is confidential, trade secret, or proprietary, must notify of requests for such information.
Filer, insurer can request hearing within 10 days of receipt of commissioner's notice.
Also authorizes public examination of records that are not confidential or proprietary.
Legislative History
On Mar. 31, 2025, bill was introduced in House; on Apr. 30, 2025, bill passed House.
On May 5, 2025, bill was introduced in Senate; on May 21, 2025, bill passed Senate.
On May 27, 2025, House concurred Senate amendments, enrolled, signed by Speaker.
On May 28, 2025, bill was signed into law by the governor and assigned Act No. 11.
