H. B. 4159
(By Delegate Givens)
[Introduced January 22, 2010; referred to the
Committee on Banking and Insurance then the Judiciary.]
Be it enacted by the Legislature of West Virginia:
A BILL to amend the Code of West Virginia, 1931, as amended, by
adding thereto a new section, designated §33-4-22, relating to
requiring insurers to notify insureds of all rate increases
before they take effect.
That the Code of West Virginia, 1931, as amended, be amended
by adding thereto a new section, designated §33-4-22, to read as
ARTICLE 4. GENERAL PROVISIONS.
§33-4-22. Rate increase notification.
All licensed insurers are required to notify policyholders
thirty days prior to any premium rate increase. The rate increase
notification should include, but not be limited to, the old premium
rate, the new premium rate and the reasons for the rate increase.
NOTE: The purpose of this bill is to require all insurers to
notify its policyholders of premium rate increases thirty days
prior to those increases going into effect.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would