HOUSE CONCURRENT RESOLUTION NO. 84



(By Delegates H. White, R. M. Thompson, Hrutkay, Perry, Perdue, Canterbury, Butcher, Frich, Morgan, Iaquinta, Foster, Azinger, Hartman and G. White)


(Originating in the Committee on Banking and Insurance)


[March 10, 2004]
Requesting the Joint Committee on Government Finance to conduct a study of the impact of laws governing the filing and approval of rates and forms for insurance companies in West Virginia.

Whereas, The availability and affordability of insurance is a concern for citizens in West Virginia; and
Whereas, Many states are modernizing their laws which govern the filing requirements for rates and forms; and
Whereas, Laws regulating the filing requirements for rates and forms can impact the cost of an insurance product and hence adversely effect consumers; and
Whereas, The effective regulation of insurance is important to both insurers and citizens; and
Whereas, Providing a streamlined method of rate and form filing may be a means of encouraging insurance companies to enter the West Virginia market; and
Whereas, Both insurers and consumers would benefit from a study of the impact of the laws of the State relating to the requirements for the filing and approval of rates and forms by the insurance commissioner; therefore, be it
Resolved by the Legislature of West Virginia:
 That the Joint Committee on Government and Finance is hereby directed to conduct a study of the impact of laws governing the filing and approval of rates and forms for insurance companies in West Virginia ; and, be it
Further Resolved, That the Joint Committee on Government and Finance report its findings and recommendations resulting from the study to the regular session of the Legislature, 2005, together with drafts of any proposed legislation necessary to effectuate such recommendations; and, be it
Further Resolved, That the expenses necessary to conduct this study, to prepare a report and to draft necessary legislation be paid from legislative appropriations to the Joint Committee on Government and Finance.