Amendment ID: S2120-8

Amendment 8

Granting the Attorney General a limited right to intervene in property insurance rate filings

Messrs. Barrett and Wolf move to amend the amendment by inserting the following sections:-

“Section XX.  Section 7 of chapter 174A of the General Laws, as appearing in the 2014 Official Edition, is hereby amended by striking out the fourth paragraph and inserting in place thereof the following paragraphs:-

(c) The attorney general may request a hearing, and the commissioner shall grant such request, with regard to any filing that in the attorney general’s opinion may not meet the requirements of this chapter. The attorney general may request a hearing on no more than four filings per year. The commissioner shall, within thirty days after receipt of such request, hold a hearing upon not less than ten days’ written notice to the attorney general and to every insurer and rating organization that made such filing. If, after such hearing, the commissioner finds that the filing does not meet the requirements of this chapter, he shall issue an order specifying in what respects he finds that such filing fails to meet the requirements of this chapter, and stating that the filing shall not take effect, or, if it has already taken effect, stating when, within a reasonable period thereafter, such filing shall be deemed no longer effective.  Copies of said order shall be sent to the attorney general and to every such insurer and rating organization.

(d) The commissioner may also call a hearing at any time prior to the proposed effective date of any filing or any later effective date called for by order made pursuant to this chapter. If after such hearing the commissioner finds that any such filing will not meet the requirements of this chapter, said filing shall not take effect.

Section XX.  Section 7 of chapter 175A of the General Laws, as appearing in the 2014 Official Edition, is hereby amended by striking out the third paragraph and inserting in place thereof the following paragraphs:-

(c) The attorney general may request a hearing, and the commissioner shall grant such request, with regard to any filing that in the attorney general’s opinion may not meet the requirements of this chapter. The attorney general may request a hearing on no more than four filings per year. The commissioner shall, within thirty days after receipt of such request, hold a hearing upon not less than ten days’ written notice to the attorney general and to every insurer and rating organization that made such filing.  If, after such hearing, the commissioner finds that the filing does not meet the requirements of this chapter, he shall issue an order specifying in what respects he finds that such filing fails to meet the requirements of this chapter, and stating that the filing shall not take effect, or, if it has already taken effect, stating when, within a reasonable period thereafter, such filing shall be deemed no longer effective.  Copies of said order shall be sent to the attorney general and to every such insurer and rating organization.

(d) The commissioner may also call a hearing at any time prior to the proposed effective date of any filing or any later effective date called for by order made pursuant to this chapter. If after such hearing the commissioner finds that any such filing will not meet the requirements of this chapter, said filing shall not take effect.”