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| THE GENERAL ASSEMBLY OF PENNSYLVANIA |
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| SENATE BILL |
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| INTRODUCED BY LOGAN, TARTAGLIONE, FONTANA, RAFFERTY, KASUNIC, WONDERLING, MUSTO, FERLO AND COSTA, MARCH 20, 2009 |
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| REFERRED TO BANKING AND INSURANCE, MARCH 20, 2009 |
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| AN ACT |
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1 | Amending the act of June 11, 1947 (P.L.538, No.246), entitled |
2 | "An act relating to the regulation of rates for insurance |
3 | which may be written by stock or mutual casualty insurance |
4 | companies, associations or exchanges, including fidelity, |
5 | surety and guaranty bonds and all other forms of motor |
6 | vehicle insurance, and title insurance; to rating and |
7 | advisory organizations; conferring on the Insurance |
8 | Commissioner the power and duty of supervising and regulating |
9 | persons, associations, companies and corporations, and of |
10 | enforcing the provisions of this act; prescribing and |
11 | regulating the practice and procedure before the |
12 | commissioner, and procedure for review by the courts; giving |
13 | the Court of Common Pleas of Dauphin County exclusive |
14 | jurisdiction over certain proceedings; prescribing penalties |
15 | and providing for enforcement thereof, and repealing |
16 | inconsistent acts," providing for rate increase notice and |
17 | public comment. |
18 | The General Assembly of the Commonwealth of Pennsylvania |
19 | hereby enacts as follows: |
20 | Section 1. The act of June 11, 1947 (P.L.538, No.246), known |
21 | as The Casualty and Surety Rate Regulatory Act, is amended by |
22 | adding a section to read: |
23 | Section 4.1. Rate Increase Notice and Public Comment.-- |
24 | (a) Any insurer seeking approval from the commissioner to |
25 | increase rates shall publish notice of the rate filing in a |
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1 | newspaper of general circulation in every county in the |
2 | Commonwealth in which the insurer has policyholders. |
3 | (b) Prior to approving or disapproving the rate increase, |
4 | the commissioner shall allow thirty (30) days, starting from the |
5 | date of publication of the notice provided for in subsection |
6 | (a), for comment on the rate increase by policyholders who will |
7 | be aggrieved by the rate increase. |
8 | Section 2. This act shall take effect in 60 days. |
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