Connecticut 2013 Regular Session

Connecticut House Bill HB05926 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	Substitute House Bill No. 5926
	1	+	General Assembly Raised Bill No. 5926
	2	+	January Session, 2013 LCO No. 1074
	3	+	01074_______INS
	4	+	Referred to Committee on INSURANCE AND REAL ESTATE
	5	+	Introduced by:
	6	+	(INS)
2	7
3		-	Public Act No. 13-167
	8	+	General Assembly
	9	+
	10	+	Raised Bill No. 5926
	11	+
	12	+	January Session, 2013
	13	+
	14	+	LCO No. 1074
	15	+
	16	+	01074_______INS
	17	+
	18	+	Referred to Committee on INSURANCE AND REAL ESTATE
	19	+
	20	+	Introduced by:
	21	+
	22	+	(INS)
4	23
5	24		AN ACT CONCERNING PERSONAL RISK INSURANCE RATE FILINGS.
6	25
7	26		Be it enacted by the Senate and House of Representatives in General Assembly convened:
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9	28		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 Subsection (a) of section 38a-688a of the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage):
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11		-	(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 fifteen 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 fifteen per cent increase in any individual territory for all coverages that are subject to the filing.
	30	+	(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] three per cent in the aggregate for all coverages that are subject to the filing. [The six] Such per cent limit 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] three per cent in the aggregate for all coverages that are subject to the filing.
	31	+
	32	+
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	34	+
	35	+	This act shall take effect as follows and shall amend the following sections:
	36	+	Section 1 from passage 38a-688a(a)
	37	+
	38	+	This act shall take effect as follows and shall amend the following sections:
	39	+
	40	+	Section 1
	41	+
	42	+	from passage
	43	+
	44	+	38a-688a(a)
	45	+
	46	+	Statement of Purpose:
	47	+
	48	+	To extend the sunset date for personal risk insurance filings and change the overall state-wide rate increase or decrease from six per cent to three per cent in the aggregate for all coverages that are subject to the filing.
	49	+
	50	+	[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]