HB 1129 (2003) -  Insurance

by Gelber
Provides that consumer protection laws apply to the business of insurance; revises provisions relating to professional medical malpractice insurance; provides for application of a discount or surcharge or alternative method based on loss experience in determining premium paid by a health care provider; requires provision of financial information to the Office of Insurance Regulation, authorizes an administrative fine for failure to comply, and requires the director of the office to report such information to the Governor and Legislature an annual report; requires the Office of Insurance Regulation to provide health care providers with a full disclosure of rate comparison information each year; requires a medical malpractice insurance rate rollback and provides for subsequent increases; requires approval for use of medical malpractice insurance rates; provides for physician participation in review of medical malpractice rate changes; requires medical malpractice insurance rates to be set by the director of the Office of Insurance Regulation; provides for approval of rate filings; requires insurers to apply for rates, schedules, and manuals; provides procedures for application and review; provides review criteria and approval standards; authorizes the office to require additional information for review; requires medical malpractice insurers to file with the office; requires the office to issue orders for setting new rates; excludes judgment or settlement amounts, taxable costs, and attorney's fees from inclusion in an insurer's rate base.
Effective Date: This act shall take effect upon becoming a law
Last Event: Died in Subcommittee on Insurance Regulation on Friday, May 2, 2003 6:15 PM

Referred Committees and Committee Actions

Related Bills

Staff Analysis

(None Available)

Vote History

(No Votes Recorded)

Bill History

Event Time Member Committee Ver.
Event: H Died in Subcommittee on Insurance Regulation Time: 05/02/2003 - 6:15 PM Member: Committee: Subcommittee on Insurance Regulation Version:
Event: H Bill referred to Procedures Time: 03/07/2003 - 4:12 PM Member: Committee: Procedures Version:
Event: H Bill referred to Judiciary Time: 03/07/2003 - 4:12 PM Member: Committee: Judiciary Version:
Event: H Bill referred to Insurance Time: 03/07/2003 - 4:12 PM Member: Committee: Insurance Version:
Event: H Bill referred to Subcommittee on Insurance Regulation Time: 03/07/2003 - 4:12 PM Member: Committee: Subcommittee on Insurance Regulation Version:
Event: H 1st Reading Time: 03/04/2003 - 10:30 AM Member: Committee: Version:
Event: H File timely Time: 03/03/2003 - 2:50 PM Member: Gelber Committee: Version: