HB 860 -- Insurance Premium Rates

Sponsor:  Aull

This bill requires insurers to obtain approval from the
Department of Insurance before adjusting 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 of
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
93rd General Assembly, 1st Regular Session
Last Updated August 25, 2005 at 1:20 pm