If enacted, this bill would amend current statutes regarding insurance rates for insurers covering firefighters and fire investigators. Specifically, it would allow an insurer to file one uniform percentage deviation to increase statewide rates only if the insurer is not reimbursed for claims from the Municipal Firefighter Cancer Reimbursement Fund. This is a significant change from the current law, which permits insurers to file deviations without this condition.

Additionally, the bill would require that the deviation filing be accompanied by an analysis from an actuary that demonstrates the basis for the rate increase, including various metrics related to claims. The current language that allows for the filing of deviations without the stipulation of reimbursement from the cancer fund would be deleted, and the requirement for supporting documentation would be expanded to ensure that the Department can adequately assess the insurer's assumptions and justifications for the proposed rate changes.

Statutes affected:
Introduced Version: 20-359