SB 386 - This act exempts certain types of commercial insurance lines from filing requirements with respect to rates and policy forms. This act also provides that the Director of the Department of Insurance, Financial Institutions, and Professional Registration may temporarily reinstate the requirement for rate or form filings after a hearing and upon a finding of fact that a reasonable degree of competition does not exist for that specific type of insurance coverage.
This act has an effective date of January 1, 2018.
This act is similar to provisions in HCB 10 (2017), HCS/SCS/SB 334 (2017), and SCS/HCS/HB 741 (2017).
ERIC VANDER WEERD