Insurers must file any rating plan or fees with the Commissioner at least how many days before the indicated effective date?

Insurers are required to file any proposed rating plan or fee changes with the Commissioner at least 45 days prior to the indicated effective date. This time frame allows the Commissioner’s office to review the proposed changes to ensure they comply with state regulations and are fair to policyholders. The 45-day requirement is based on the need for sufficient time for scrutiny, ensuring that the practices are transparent and protect consumers while maintaining regulatory oversight of the insurance industry. It helps facilitate an orderly process for both insurers and regulators and ensures that policyholders are informed of any changes that may affect their insurance premiums or coverage.