Amendment ID: S2871-59

Amendment 59

Promoting Insurance Rate Review Transparency

Mr. Fattman moves that the proposed new text be amended by inserting after section X the following section:-

"SECTION XX. Section 117C of chapter 175 of the General Laws, as appearing in the 2020 Official Edition, is hereby amended by adding after line 350 the following subsection:-

(16) Notwithstanding any general or special law to the contrary, the commissioner shall (i) provide summaries of rate changes offered in plain language to consumers, (ii) determine a time period in which advanced notice is given to consumers prior to proposed rate changes, and (iii) provide consumers with official comment periods to review and comment on proposed rate changes.”