H. B. 4465
(By Delegate Beane)
[Introduced February 13, 2002; referred to the
Committee on Banking and Insurance then the Judiciary.]
A BILL to amend and reenact section four, article twenty-b, chapter
thirty-three of the code of West Virginia, one thousand nine
hundred thirty-one, as amended, relating to increasing the
waiting period for rate filings from sixty to ninety days and
requiring the commissioner to hold a hearing within the
initial ninety day waiting period upon every filing which
requests an increase in general rates of ten percent or more
and upon every filing which, in the opinion of the
commissioner, will affect the public.
Be it enacted by the Legislature of West Virginia:
That section four, article twenty-b, chapter thirty-three of
the code of West Virginia, one thousand nine hundred thirty-one, as
amended, be amended and reenacted to read as follows:
ARTICLE 20B. RATES AND MALPRACTICE INSURANCE POLICIES.
§33-20B-4. Disapproval of filings.
(a) If within the waiting period or any extension thereof as
provided in subsection (b), section three 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 the 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 be
effective. Within thirty days from the issuance of written notice
of disapproval, any insurer or rating organization aggrieved by
such the disapproval of any filing may request a hearing thereupon
pursuant to section thirteen, article two of this chapter.
(b) If at any time subsequent to the waiting period or any
extension thereof as provided in subsection (b), section three 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 a written
order specifying in what respect he or she finds that such filing
fails to meet the requirements of this article and a date, not less
than thirty days from the issuance of such the order, when such the
filing shall be deemed considered no longer effective. Within
thirty days from the issuance of such the order, any insurer or
rating organization aggrieved by such the order may request a
hearing thereon pursuant to section thirteen, article two of this chapter. Any such order shall not affect any contract or policy
made or issued prior to the expiration date set forth in such the
order.
(c) Any person or organization aggrieved by any filing which
is in effect or the application thereof may request a hearing
thereon pursuant to section thirteen, article two of this chapter.
The insurer or rating organization which made such the filing shall
be notified in writing upon receipt of any such request for hearing
and thereby made a party to such the hearing. Upon such hearing, if
the commissioner finds that such the filing fails to meet the
requirements of this article, he or she shall issue an order
specifying in what respects he or she so finds and a date, not less
than thirty days from the issuance of such the order, when such the
filings shall be deemed considered no longer effective.
(d) Within the initial sixty-day ninety-day waiting period,
the commissioner shall hold a public hearing upon every filing
which requests an increase in general rates of ten percent or more
and upon every filing which, in the opinion of the commissioner, is
of such import that it will affect the public. The insurer or
rating organization which made such the filing shall be notified in
writing not less than fifteen days prior to the hearing date.
Notice of the time, place and filing to be considered shall be
published as a Class II legal advertisement in every county in the
state in accordance with article three, chapter fifty-nine of this code.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would
be added.
JUDICIARY COMMITTEE TITLE AMENDMENT
"A Bill to amend and reenact section four, article twenty-b,
chapter thirty-three of the code of West Virginia, one thousand
nine hundred thirty-one, as amended, relating to increasing the
waiting period for rate filings for medical malpractice policies."