Credit life insurance and credit accident and sickness insurance; adjustment of rates. (SB383)

Introduced By

Sen. Ryan McDougle (R-Mechanicsville)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Credit life insurance and credit accident and sickness insurance; adjustment of rates; requirement for hearing. Removes the requirement that the State Corporation Commission conduct a hearing prior to determining the actual loss ratio for each form of insurance and adjusting the prima facie rates. Under the bill, after the Commission has determined the actual loss ratio and prima facie rates, it will provide notice of such ratio and rates and provide an opportunity for a hearing. Read the Bill »

Status

01/17/2022: passed committee

History

DateAction
01/11/2022Prefiled and ordered printed; offered 01/12/22 22101326D
01/11/2022Referred to Committee on Commerce and Labor
01/16/2022Impact statement from SCC (SB383)
01/17/2022Reported from Commerce and Labor (15-Y 0-N) (see vote tally)
01/19/2022Constitutional reading dispensed (40-Y 0-N) (see vote tally)

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