SSHB489 3264 4049
HOUSE SUMMARY OF SENATE AMENDMENTS
HB 489 2023 Regular Session Huval
INSURANCE: Provides relative to ratemaking systems utilized by insurers and rate service
organizations
Synopsis of Senate Amendments
1.Deletes present and proposed law to provide that a rate filed by an insurer is
deemed approved by the commissioner of insurance unless the commissioner
affirmatively approves or disapproves the filing within the 45-day waiting
period prescribed in present law.
2.Prohibits the commissioner from disapproving a filing that is in compliance
with present law on the basis of time that has elapsed since the commissioner's
most recent rate approval.
Digest of Bill as Finally Passed by Senate
Present law provides that, upon written application by an insurer or rate organization, the
commissioner of insurance (commissioner) may authorize a filing that has been reviewed to
become effective before expiration of the 45-day waiting period prescribed in present law.
Proposed law retains present law.
Present law provides that a rate filing is deemed to meet the requirements of present law
unless disapproved in writing by the commissioner within the 45-day waiting period.
Proposed law retains present law but further provides that a rate filing is deemed approved
by the commissioner unless the commissioner affirmatively approves or disapproves the
filing within the 45-day waiting period. Provides that the commissioner's approval of a rate
filing waives any unexpired portion of the 45-day waiting period.
Present law authorizes an insurer or rating organization to commence with use of filed rates
upon expiration of 45 days from the date of the commissioner's receipt of the rate, unless the
commissioner provided notice of an incomplete or disapproved rate filing.
Proposed law retains present law but removes the exception relative to incomplete rate
filings.
Proposed law prohibits the commissioner from disapproving a rate filing that is in
compliance with present law on the basis of time that has elapsed since the commissioner's
most recent rate approval.
(Amends R.S. 22:1451(C); Adds R.S. 22:1451(G))
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