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An Act To Provide for Transparency in Insurance Rate Proceedings
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 24-A MRSA §2304-C, sub-§3,  as enacted by PL 1991, c. 377, §11, is repealed.
Sec. 2. 24-A MRSA §2304-C, sub-§5,  as enacted by PL 1991, c. 377, §11, is repealed.
Sec. 3. 24-A MRSA §2304-C, sub-§5-A  is enacted to read:
 
5-A.  Public access.     Immediately after receiving a filing under this section, the superintendent shall grant access to the filing to the public.
Sec. 4. 24-A MRSA §2304-C, sub-§6,  as enacted by PL 1991, c. 377, §11, is amended to read:
 
6. Public hearing.   The superintendent may hold a public hearing on any filing and shall hold a public hearing on a filing requesting a rate increase of more than 5%, as provided in sections 229 to 235. At the request of anya person described in subsection 5who pays premiums for physicians and surgeons liability coverage to the company that made the filing or a person or organization that represents a group of persons who pay premiums for physicians and surgeons liability coverage to the company that made the filing, the superintendent shall, as required by section 229, hold a public hearing on the filing.
 
SUMMARY
This bill requires the Superintendent of Insurance to make medical malpractice filings open to the public and to hold a public hearing for any filing requesting a rate increase of over 5%.