SB 6079 - DIGEST

Finds that while it is in the public interest to maintain an efficient and expeditious regulatory environment in which to conduct the business of insurance, this interest must be balanced by the equally important public interest in promoting greater transparency when excessive rate filings impact the very businesses that are to be insured.

Declares an intent to increase consumer access to information regarding excessive rates in general casualty insurance in order to promote greater transparency of the rate filing system.

Directs the insurance commissioner to notify the public of any rate filing by an insurer for a rate change affecting general casualty insurance that exceeds fifteen percent of the then applicable rate. The insurance commissioner shall also notify the public of any rate filing for a rate change affecting general casualty when that filing, together with any other filing by the same company for a rate change within the preceding twelve months, will result in a cumulative rate increase in excess of fifteen percent.

Provides that, with respect to administrative or legal proceedings authorized by or arising under this act, any person may: (1) Initiate or intervene in the proceedings; or

(2) Challenge any action of the insurance commissioner.

Directs the commissioner or a court to award reasonable advocacy and witness fees and expenses to any person who demonstrates that: (1) The person represents the interests of consumers; and

(2) The person made a substantial contribution to the adoption of any order, rule, or decision by the commissioner or a court.

Provides that, when an award of fees or expenses under this act occurs in a proceeding related to a rate application, the award must be paid by the applicant.