Not Germane

AMENDMENT NO 2 PROPOSED TO

Senate Bill No. 2001

BY: Senator(s) Williamson

     Amend by inserting the following section after line 1267 and renumbering any succeeding sections:

     SECTION *.  (1)  For property and casualty insurance policies, including medical malpractice insurance policies, issued or renewed on or after July 1, 2004, every insurer shall reduce the premium for the policy to an amount that is at least twenty-five percent (25%) less than the premium for the same coverage which was in effect on July 1, 2003.  If, on or after July 1, 2004, application is made for the first time for a policy of property and casualty insurance, the premium for the policy shall be at least twenty-five percent (25%) less than the premium which was in effect on July 1, 2003, for similarly situated risks.

     (2)  The Commissioner of Insurance is authorized to promulgate rules and regulations necessary to carry out the provisions of this section.

     (3)  The provisions of this section shall not apply to policies issued or renewed under the Medical Malpractice Insurance Availability Plan.

     (4)  This section shall stand repealed on or after July 1, 2006.

     Further, amend the title on line 46 by inserting after the semicolon:

TO REQUIRE INSURERS TO REDUCE THE PREMIUM FOR PROPERTY AND CASUALTY INSURANCE POLICIES BY A CERTAIN PERCENTAGE;