(b) In all cases other than those described in subsection (a) of this section, rate filings shall be approved by the department not less than seventy-five days before the effective date of such rates filed.
(c) Every insurer shall notify any insured affected by a rate change subject to this section affecting the general rate level made by it of that change at least thirty days prior to the date of any billing for such rate change made by the insurer. Such notice shall include an estimate of the increase as well as an explanation of the nature of the increase, and cost factors associated with said increase.
(d) Premiums based upon a rate change subject to this section affecting the general rate level shall be payable by an insured on an installment basis of not less than two payments per policy period, should the insured so choose, for any policy with a premium in excess of one thousand dollars.
(e) The department shall make available to the public a list of rate changes subject to this section affecting the general rate level by industry classification within fifteen days from the date the department approves any rate changes.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.