Relates to notifying an insured of a rate filing increase or decrease for long term care; provides such notification shall include instructions on how to submit comments on such rate filing.
Insurers to submit long-term care insurance premium rate filings to the Department of Commerce and Insurance on or after August 28, 2026, and includes director of DCI's responsibility to approve or disapprove the rates
Relates to motor vehicle insurance fairness; provides that insurance rates shall not be increased based on certain factors; sets forth processes for motor vehicle insurers to have rate increases approved; allows public access in relation to any proposed insurance rate increases; allows members of the public to request permission to intervene in proceedings related to rate increases; directs rules and regulations to be established.
Relates to motor vehicle insurance fairness; provides that insurance rates shall not be increased based on certain factors; sets forth processes for motor vehicle insurers to have rate increases approved; allows public access in relation to any proposed insurance rate increases; allows members of the public to request permission to intervene in proceedings related to rate increases; directs rules and regulations to be established.
Requires rate filings for prior approval for commercial property insurance, commercial general liability insurance, and personal residential property insurance; requires insurers provide written explanations for premium increases in certain covered policies; requires certain insurers of homeowners' insurance to refile its homeowners' insurance rates and, in certain circumstances, be required to reduce rates.
Requires prior approval from Commissioner of DOBI for rate filings for long-term care insurance issued on group basis.
Requires prior approval from Commissioner of DOBI for rate filings for long-term care insurance issued on group basis.
Insurance; allowing rates to be excessive; requiring filings with Insurance Commissioner; allowing Commissioner to give written notices; requiring Commissioner to disapprove rates; increasing certain time frames for filings. Effective date.
Rate Filings for Property Insurers
Provides that admission agreements at adult homes include language providing that daily room and board rates at adult homes shall be increased when the minimum wage in New York City increases in an amount equal to the percentage of such minimum wage increase; states that such adjustment applies solely to room, board and non-medical supportive services and shall not affect Medicaid reimbursement rates.