2001 REGULAR SESSION (71st)                                                                                   A SB4 59

Amendment No. 59

 

Senate Amendment to Senate Bill No. 4                                                                             (BDR 57‑734)

Proposed by: Committee on Commerce and Labor

Amendment Box:

Resolves Conflicts with: N/A

Amends:         Summary:               Title:              Preamble:               Joint Sponsorship:

 

ASSEMBLY ACTION              Initial and Date              |SENATE ACTION                        Initial and Date

       Adopted       Lost                                               |          Adopted       Lost                                           

Concurred In                     Not                                                        |Concurred In  Not                                 

       Receded        Not                                               |         Receded        Not                                           

 

     Amend the bill as a whole by deleting section 1 and renumbering sec. 2 as section 1.

     Amend sec. 2, page 2, by deleting lines 38 through 41 and inserting:

     “2.  Except as otherwise provided in this section and NRS 686B.110:

     (a) Unless the commissioner has determined that the market is not competitive; or

(b) If a proposed increase or decrease in the rate of an insurer does not change by more than 7 percent the total average premium required to be paid by persons insured by the insurer for a particular line or kind of insurance during the 12 months immediately preceding the proposed increase or decrease,

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the insurer shall file the information required by subsection 1 and the supporting data required to be filed pursuant to NRS 686B.100 on or before the date on which the changes are to become effective.”.

     Amend sec. 2, page 2, by deleting lines 46 and 47 and inserting:

“commissioner may require the insurer to file the information required by subsection 1 and the supporting data required to be filed pursuant to NRS 686B.100 at least 60 days before the rates become effective or may subject the rates to review pursuant to NRS”.

     Amend the bill as a whole by deleting sec. 3 and renumbering sec. 4 as sec. 2.

     Amend sec. 4, page 3, by deleting line 35 and inserting:

     “(a) The market is not competitive;”.

     Amend sec. 4, page 3, line 37, by deleting “or”.

     Amend sec. 4, page 3, by deleting line 40 and inserting:

“section; or

     (d)  A proposed increase or decrease in the rate of any kind or line of insurance changes by more than 7 percent the total average premium required to be paid by persons insured by the insurer for a particular line or kind of insurance during the 12 months immediately preceding the proposed increase or decrease,”.

     Amend sec. 4, page 4, line 31, by deleting:

“If, in a competitive market,” and inserting “If”.

     Amend the title of the bill by deleting the first and second lines and inserting:

“AN ACT relating to insurance;”.