2008 Senate Bill 1023

Reduce limits on state’s power to impose insurance price controls

Introduced in the Senate

Jan. 22, 2008

Introduced by Sen. Martha G. Scott (D-2)

To repeal a provision of the insurance code that requires the state insurance bureau to determine that there not is a “reasonable degree” of competition for the particular type of insurance before it can declare a company’s rates “excessive” and order the firm to lower the price (or stop selling that line of insurance).

Referred to the Committee on Economic Development and Regulatory Reform