HB 1124 -- Insurance

Sponsor:  Seigfreid

This bill requires insurers to obtain approval from the
Department of Insurance before changing any insurance premium
rate by 15% or more.  Before approving or disapproving the rate
change, the department must hold a public hearing.  Hearings must
be granted within 30 days of receiving notice from the insurer
for a proposed rate change.  Any member of the public may provide
information at these hearings.  The department must issue an
order either authorizing or prohibiting the rate change within 20
days.  No rate may be excessive, inadequate, or unfairly
discriminatory.  Insurers may appeal any department order
pursuant to Chapter 536, RSMo.

Missouri House of Representatives
92nd General Assembly, 2nd Regular Session
Last Updated September 23, 2004 at 11:14 am