| 1 | Representative(s) Farkas offered the following: |
| 2 |
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| 3 | Amendment to Amendment (538987) |
| 4 | Remove line(s) 104-110 and insert: |
| 5 | (b) The office may require the administration of the |
| 6 | contingent benefit upon lapse as a condition of approval for a |
| 7 | rate adjustment for a block of business for which the contingent |
| 8 | benefit upon lapse is not otherwise available. The office may |
| 9 | also require an insurer who files for such rate adjustment to |
| 10 | provide policy or certificate holders with the ability to reduce |
| 11 | coverage so that the required premiums are not increased. The |
| 12 | office may also approve any other alternative mechanism filed by |
| 13 | the insurer in lieu of the contingent benefit upon lapse. |