HB 1125 -- Insurance Premium Rates

Sponsor:  Aull

This bill requires insurers to obtain approval from the
Department of Insurance, Financial Institutions, and Professional
Registration before adjusting any insurance premium rate by 15%
or more.  Before approving or disapproving the rate change, the
department must hold a public hearing.  Hearings must be granted
within 30 days of receiving notice from the insurer of a proposed
rate change.  Any member of the public may provide information at
these hearings.  The department must issue an order either
authorizing or prohibiting the rate change within 20 days.  No
rate may be excessive, inadequate, or unfairly discriminatory.
Insurers may appeal any department order pursuant to Chapter 536,
RSMo.

Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:21 am