Connecticut 2015 Regular Session

Connecticut House Bill HB06866

Introduced
2/20/15  
Refer
2/20/15  

Caption

An Act Limiting Private Passenger Nonfleet Automobile Insurance Underwriting Factors And Increasing The Motor Vehicle Minimum Amount Of Proof Of Financial Responsibility For Property Damage.

Impact

The legislative intention behind HB 6866 is to create a more equitable and transparent framework for insurance underwriting. By restricting the criteria used to determine insurance rates, the bill seeks to reduce unfair discrimination based on inappropriate metrics such as credit history, ultimately making insurance more accessible to individuals with lower credit ratings. This change could decrease the influence of factors unrelated to driving performance on insurance pricing, which advocates believe will yield fairer outcomes for consumers.

Summary

House Bill 6866 proposes significant changes regarding private passenger nonfleet automobile insurance in the state. The bill aims to limit the underwriting and rating of these insurance policies to specific criteria including driving history, number of miles driven annually, and years of driving experience. A notable feature of the bill is the increase in the minimum amount of proof of financial responsibility for property damage to $25,000, which is intended to enhance consumer protection and ensure adequate coverage in instances of accidents.

Contention

However, the bill has drawn attention from various stakeholders. Critics notably express concern that limiting underwriting factors could lead insurance companies to raise premiums overall to offset potential risks associated with less data-driven decision-making. Insurers argue that broadening the criteria helps to assess risks more accurately, thus preserving market competition. The balance between protecting consumers and ensuring robust underwriting practices remains a point of contention in discussions around the bill.

Companion Bills

No companion bills found.

Previously Filed As

CT SB00184

An Act Concerning The Renting Or Leasing Of Passenger Motor Vehicles.

CT SB00398

An Act Concerning The Regulation And Taxation Of Travel Insurance And Associated Entities, Products And Professionals.

CT HB05503

An Act Concerning Insurance Market Conduct And Insurance Licensing, The Insurance Department's Technical Corrections And Other Revisions To The Insurance Statutes And Captive Insurance.

CT HB05172

An Act Concerning The Assessment Of Motor Vehicles For Property Taxation.

CT SB00183

An Act Implementing The Recommendations Of The Department Of Motor Vehicles And Concerning Low-speed Vehicles, The Towing Of Occupied Vehicles, School Buses, Electric Commercial Vehicles, The Passenger Registration Of Pick-up Trucks And Removable Windshield Placards For Persons Who Are Blind And Persons With Disabilities.

CT SB00400

An Act Concerning The Insurance Department's Technical Corrections And Other Revisions To The Insurance Statutes.

CT HB05203

An Act Concerning The Offering Price Of A Motor Vehicle And Automobile Dealer Conveyance Fees.

CT SB00501

An Act Concerning Motor Vehicle Assessments For Property Taxation, Innovation Banks, The Interest On Certain Tax Underpayments, The Assessment On Insurers, School Building Projects, The South Central Connecticut Regional Water Authority Charter And Certain State Historic Preservation Officer Procedures.

CT SB00404

An Act Concerning Affordability As A Factor In Premium Rate Filings For Individual And Group Health Insurance Policies.

CT SB00395

An Act Concerning The Reporting Of Medical Debt.

Similar Bills

CT HB06161

An Act Prohibiting Insurance Companies From Using Credit History As A Factor In Underwriting Or Rating Private Passenger Nonfleet Automobile Insurance Policies.

CT HB05372

An Act Prohibiting Insurance Companies From Using Credit History As A Factor In Underwriting Or Rating Private Passenger Nonfleet Automobile Insurance Policies.

CT SB00863

An Act Concerning Factors Used In Automobile Insurance Rating.

CT SB00238

An Act Requiring The Insurance Department To Study Driver Monitoring Devices Offered By Insurers.

CT HB05024

An Act Concerning Factors Used In Automobile Insurance Rating.

CT HB07263

An Act Prohibiting Insurance Companies From Using Sex Or Gender Identity Or Expression As A Factor In Underwriting Or Rating Private Passenger Nonfleet Automobile Insurance Policies.

CT HB06920

An Act Concerning Homeowners Insurance.

CT HB05014

An Act Concerning Automobile And Personal Risk Insurance.