Amends insurance law to allow insurers to offer schedule rating plans based on individual employer risk characteristics.

This bill amends the insurance law to permit insurers to make available schedule rating plans that reflect the individual risk characteristics of an employer. The rating modification under such plans is limited to plus or minus twenty-five percent, exclusive of certain credits or debits and pricing mechanisms. This change does not apply to general rate changes. The bill takes effect immediately upon becoming law.

Amends insurance law to allow insurers to offer schedule rating plans based on individual employer risk characteristics.

This bill amends the insurance law to permit insurers to make available schedule rating plans that reflect the individual risk characteristics of an employer. The rating modification under such plans is limited to plus or minus twenty-five percent, exclusive of certain credits or debits and pricing mechanisms. This change does not apply to general rate changes. The bill takes effect immediately upon becoming law.