Legislation - HB1159

Title: Insurance - Property and Casualty Insurance - Minimum Acceptable Loss Ratio and Premium Refunds
Sponsored by: Delegates Wivell, Baker, and Valentine
Status: In the House - Hearing 2/26 at 1:00 p.m.
Analysis: Fiscal and Policy Note

Synopsis

Establishing a minimum acceptable loss ratio of 85% during a plan year for property and casualty insurers and requiring the insurer to refund a certain amount of premiums paid by an insured if the insurer's loss ratio does not meet or exceed the established loss ratio.

Committees

Original:: Economic Matters

Details

Bill File Type: Regular

Effective Date(s): October 1, 2025

History

Legislation History
Chamber House Calendar Date 2/06/2025 Legislative Date 2/06/2025 Action First Reading Economic Matters Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Insurance - Property and Casualty Insurance - Minimum Acceptable Loss Ratio and Premium Refunds Proceedings
Chamber House Calendar Date 2/06/2025 Legislative Date 2/06/2025 Action Hearing 2/26 at 1:00 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action
House	2/06/2025	2/06/2025	First Reading Economic Matters
			Text - First - Insurance - Property and Casualty Insurance - Minimum Acceptable Loss Ratio and Premium Refunds
House	2/06/2025	2/06/2025	Hearing 2/26 at 1:00 p.m.

File Code

Subjects

Statutes