General Assembly Substitute Bill No. 5926
January Session, 2013 *_____HB05926INS___020613____*
General Assembly
Substitute Bill No. 5926
January Session, 2013
*_____HB05926INS___020613____*
AN ACT CONCERNING PERSONAL RISK INSURANCE RATE FILINGS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. Subsection (a) of section 38a-688a of the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage):
(a) Notwithstanding the requirements of sections 38a-389 and 38a-688 with respect to personal risk insurance with the exception of residual market rates, and on and after July 1, 2006, and until July 1, [2013] 2015, an insurer may file a rate with the Insurance Commissioner pursuant to this section and such rate shall take effect the date it is filed provided the rate provides for an overall state-wide rate increase or decrease of not more than six per cent in the aggregate and not more than a ten per cent increase in any individual territory for all coverages that are subject to the filing. [The six] Such per cent [limit] limits shall not apply on an individual insured basis. Not more than one filing may be made by an insurer pursuant to this section within any twelve-month period unless the filing, when combined with one or more filings made by the insurer within the preceding twelve months, does not result in an overall state-wide increase or decrease of more than six per cent in the aggregate and not more than a ten per cent increase in any individual territory for all coverages that are subject to the filing.
This act shall take effect as follows and shall amend the following sections:
Section 1 from passage 38a-688a(a)
This act shall take effect as follows and shall amend the following sections:
Section 1
from passage
38a-688a(a)
INS Joint Favorable Subst.
INS
Joint Favorable Subst.