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Posted on June 14, 2024

Insurers that currently specify in their policy forms any of the penalty amounts changed by House Bill 1482 are required to update those forms to include the revised penalty amounts and are also required to file updated forms with the Administration for approval. Updated forms must be submitted for review by the Property & Casualty Rates and Forms Unit not later than June 30, 2024. The Administration encourages insurers to make the filing as a stand-alone form filing to expedite our review.