Pennsylvania Department of Insurance given new rate review authority under enacted law

A new law that will expand the authority of the Pennsylvania Department of Insurance has taken effect this week. The law was introduced last year and won approval from the state’s legislators. Governor Tom Corbett signed the bill, Act 134, into law late last year, with an enactment date of March 21, 2012. The law is nearly identical to similar legislation in California that gave regulators more authority over rate proposals coming from insurance companies. Legislators believe that new authority granted to the Department of Insurance will help protect consumers…

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