HOUSE AMENDMENT Bill No. HB 25A
1	CHAMBER ACTION
2	Senate House
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12	Representatives Ambler and Galvano offered the following:
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14	Amendment (with directory and title amendments)
15	Between lines 4693 & 4694, insert:
16	(8)(a) For workers' compensation insurance policies issued
17	or renewed on or after July 1, 2003, and before July 1, 2004,
18	every insurer shall reduce its rates and premiums by at least 15
19	percent.
20	(b) For workers' compensation insurance policies issued or
21	renewed on or after July 1, 2003, and before July 1, 2004, rates
22	and premiums reduced pursuant to paragraph (a) may only be
23	increased if the director of the Office of Insurance Regulation
24	finds that the rate reduced pursuant to paragraph (a) would
25	result in an inadequate rate. Any such increase must be approved
26	by the director of the Office of Insurance Regulation prior to
27	being used.
28	(c) The provisions of this subsection shall control to the
29	extent of any conflict with any other provision of this section.
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31	============= D I R E C T O R Y A M E N D M E N T =============
32	Remove line 4683, and insert:
33	Section 27. Subsections (7) and (8) are added to section
34	440.38,
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36	================= T I T L E A M E N D M E N T =================
37	Between lines 76 & 77, insert:
38	requiring workers' compensation insurance carriers to reduce
39	premiums by 15 percent; requiring rate increases to be approved
40	by the director of the Office of Insurance Regulation; providing
41	applicability;