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.
Establishes "Car Insurance Reduction Act"; modifies current law addressing requirements of automobile insurers for underwriting rate calculations and reductions, and reporting requirements to State.
Establishes "Car Insurance Reduction Act"; modifies current law addressing requirements of automobile insurers for underwriting; rate calculations and reductions; and reporting requirements to State.