Introduced Version
House Bill 2078 History
| 
Email
Key: Green = existing Code. Red = new code to be enacted
H. B. 2078
(By Delegate Caputo)
[Introduced February 13, 2013; referred to the
Committee on Banking and Insurance then the Judiciary.]
A BILL to amend and reenact §33-20-5 of the Code of West Virginia,
1931, as amended, relating to insurance generally; and
prohibiting the use of a credit score in casualty insurance
rate filings.
Be it enacted by the Legislature of West Virginia:
That §33-20-5 of the Code of West Virginia, 1931, as amended,
be amended and reenacted to read as follows:
ARTICLE 20. RATES AND RATING ORGANIZATIONS.
§33-20-5. Disapproval of filings.
(a) If within the waiting period or any extension thereof as
provided in subsection (e) of section four of this article, the
commissioner finds that a filing does not meet the requirements of
this article, he or she shall send to the insurer or rating
organization which made such the filing, written notice of disapproval of such filing specifying therein in what respects he
or she finds such the filing fails to meet the requirements of this
article and stating that such the filing shall not become
effective.
(b) If within thirty days after a special surety filing
subject to subsection (f) of section four of this article or if
within thirty days after a specific inland marine rate on a risk
specially rated by a rating organization subject to subsection (g)
of section four of this article has become effective, the
commissioner finds that such the filing does not meet the
requirements of this article, he or she shall send to the rating
organization which made such filing written notice of disapproval
of such the filing specifying therein in what respects he or she
finds that such the filing fails to meet the requirements of this
article and stating when, within a reasonable period, thereafter,
such filing shall be deemed the filing is no longer effective.
Said The disapproval shall does not affect any contract made or
issued prior to the expiration of the period set forth in said the
notice.
(c) If at any time subsequent to the applicable review period
provided for in subsection (a) or (b) of this section, the
commissioner finds that a filing does not meet the requirements of
this article, he or she shall, after notice and hearing to every
insurer and rating organization which made such the filing, issue an order specifying in what respects he or she finds that such the
filing fails to meet the requirements of this article and stating
when, within a reasonable period thereafter, such the filing shall
be deemed state when, within a reasonable period, the filing is no
longer effective. Copies of said the order shall be sent to every
such insurer and rating organization. Said The order shall does
not affect any contract or policy made or issued prior to the
expiration of the period set forth in said the order.
(d) Any A person or organization aggrieved with respect to any
filing which is in effect may demand a hearing. thereon. If, after
such the hearing, the commissioner finds that the filing does not
meet the requirements of this article, he or she shall issue an
order specifying in what respects he or she finds that such the
filing fails to meet the requirements of this article and stating
when, within a reasonable period thereafter, such the filing shall
be deemed state when, within a reasonable period, the filing is no
longer effective. Said The order shall does not affect any
contract or policy made or issued prior to the expiration of the
period set forth in said the order.
(e) Any insurer or rating organization, in respect to any
filing made by it which is not approved by the commissioner, may
demand a hearing. thereon.
(f) No manual of classifications, rules, rating plans or any
modification of any of the foregoing which establishes standards for measuring variations in hazards or expense provisions, or both,
in the case of casualty insurance to which this article applies and
no manual, minimum, class rate, rating schedule, rating plan,
rating rule or any modification of any of the foregoing, in the
case of fire insurance to which this article applies, and which has
been filed pursuant to the requirements of section four of this
article, shall be disapproved if the rates thereby produced meet
the requirements of this article. None of the foregoing can
consider credit scores as a factor.
(g) If, in the opinion of the commissioner, the rate or form
filing made by an insurer is of such import that it will affect the
public, he or she may, at his or her discretion, issue notice to
such the insurer of a public hearing. The notice of public hearing
to the insurer making such the form or rate filing shall be made by
United States mail at least fifteen days prior to the hearing date.
Notice to the public shall be given by appropriate publication in
a newspaper in the form and manner prescribed by chapter twenty-
nine-a of this code. The holding of a public hearing as outlined
in this subsection shall have the effect of eliminating the right
of the party making such filing to demand a hearing as stated in
subsections (d) and (e) of this section.
NOTE: The purpose of this bill is to prohibit the use of a
credit score in casualty insurance rate filings.
Strike-throughs indicate language that would be stricken from
the present law and underscoring indicates new language that would
be added.
Webmaster | © 2024 West Virginia Legislature **
