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By Mr. Vallee of Franklin, petition (accompanied by bill, House, No. 1116) of James E. Vallee relative to disclosure of subsidies in motor vehicle insurance rate setting. Financial Services. |
The Commonwealth of Massachusetts
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PETITION OF:
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By Mr. Vallee of Franklin, petition (accompanied by bill, House, No. 1116) of James E. Vallee relative to disclosure of subsidies in motor vehicle insurance rate setting. Financial Services. |
The Commonwealth of Massachusetts
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PETITION OF:
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In the Year Two Thousand and Seven.
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An Act relative to disclosure of subsidies in auto insurance rate setting. |
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
SECTION 1. Section 113B of chapter 175 of the General Laws, as most recently amended by chapter 213 of the Acts of 2004, is hereby amended by adding at the end thereof the following new sentence:-
In fixing and establishing rates, the commissioner shall require that each insurance company include on the coverage selections page for each auto insurance policy a description of any subsidies and the amounts thereof, as determined by the commissioner, that will be paid or received by the policyholder.