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Engrossed Version House Bill 4465 History

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Key: Green = existing Code. Red = new code to be enacted


ENGROSSED

H. B. 4465


(By Delegate Beane)

[Introduced February 13, 2002; referred to the

Committee on Banking and Insurance then the Judiciary.]




A BILL to amend and reenact section four, article twenty-b, chapter thirty-three of the code of West Virginia, one thousand nine hundred thirty-one, as amended, relating to increasing the waiting period for rate filings for medical malpractice policies.

Be it enacted by the Legislature of West Virginia:
That section four, article twenty-b, chapter thirty-three of the code of West Virginia, one thousand nine hundred thirty-one, as amended, be amended and reenacted to read as follows:
ARTICLE 20B. RATES AND MALPRACTICE INSURANCE POLICIES.

§33-20B-4. Disapproval of filings.

(a) If within the waiting period or any extension thereof as provided in subsection (b), section three of this article, the commissioner finds that a filing does not meet the requirements of this article, he or she shall send to the insurer or rating organization which made such the filing written notice of disapproval of such the filing specifying therein in what respects he or she finds such the filing fails to meet the requirements of this article and stating that such the filing shall not be effective. Within thirty days from the issuance of written notice of disapproval, any insurer or rating organization aggrieved by such the disapproval of any filing may request a hearing thereupon pursuant to section thirteen, article two of this chapter.
(b) If at any time subsequent to the waiting period or any extension thereof as provided in subsection (b), section three of this article, the commissioner finds that a filing does not meet the requirements of this article, he or she shall send to the insurer or rating organization which made such the filing a written order specifying in what respect he or she finds that such filing fails to meet the requirements of this article and a date, not less than thirty days from the issuance of such the order, when such the filing shall be deemed considered no longer effective. Within thirty days from the issuance of such the order, any insurer or rating organization aggrieved by such the order may request a hearing thereon pursuant to section thirteen, article two of this chapter. Any such order shall not affect any contract or policy made or issued prior to the expiration date set forth in such the order.
(c) Any person or organization aggrieved by any filing which is in effect or the application thereof may request a hearing thereon pursuant to section thirteen, article two of this chapter. The insurer or rating organization which made such the filing shall be notified in writing upon receipt of any such request for hearing and thereby made a party to such the hearing. Upon such hearing, if the commissioner finds that such the filing fails to meet the requirements of this article, he or she shall issue an order specifying in what respects he or she so finds and a date, not less than thirty days from the issuance of such the order, when such the filings shall be deemed considered no longer effective.
(d) Within the initial sixty-day ninety-day waiting period, the commissioner shall hold a public hearing upon every filing which requests an increase in general rates of ten percent or more and upon every filing which, in the opinion of the commissioner, is of such import that it will affect the public. The insurer or rating organization which made such the filing shall be notified in writing not less than fifteen days prior to the hearing date. Notice of the time, place and filing to be considered shall be published as a Class II legal advertisement in every county in the state in accordance with article three, chapter fifty-nine of this code.

Strike-throughs indicate language that would be stricken from the present law, and underscoring indicates new language that would be added.

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