SB 0956 Makes various technical changes to the law regarding casualty insurance
LR Number:3046S.01I Fiscal Note:3046-01
Committee:Insurance and Housing
Last Action:01/31/02 - SCS Voted Do Pass S Insurance & Housing Journal page:
Committee (3046S.02C)
Title:SCS SB 956
Effective Date:August 28, 2002
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Current Bill Summary

SCS/SB 956 - This act exempts insurers from filing rating plans with regard to inland marine risks which by regulation or general custom are not written according to manual rates or rating plans.

This act deletes Section 379.362 from the law which exempted commercial property insurance and commercial casualty insurance policies from certain provisions of the law which concern regulation by the department of policy language, policy provisions or the format of such policies, or the rates associated with such policies.

This act requires supporting actuarial data accompany every commercial casualty insurance rate, rating plan, or rating system filing whenever requested by the director to determine whether rates are excessive, inadequate or unfairly discriminatory.