Bill > S1380

This bill provides that private passenger automobile insurance rating territories shall not place an exposure in a territory based on ZIP code when the ZIP code crosses a municipal boundary. Instead, the exposure must be placed in the territory in which the insured vehicle is garaged, based on the municipal boundary rather than the ZIP code. The bill also outlines specific requirements and standards that the Commissioner of Banking and Insurance must consider when establishing new territorial rating plans, such as recognizing similarities and differences in driving environments, ensuring statistical credibility, and avoiding unfair discrimination or subsidization between territories.

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