Industry trade groups said they expect Connecticut Governor M. Jodi Rell to sign a bill approved by the legislature yesterday that permits insurers to change personal lines rates within certain limits without regulatory permission.
Insurer organizations said passage of the flex-rating legislation would create a more competitive insurance market, giving consumers greater access to more products at lower prices.
In expectation the bill would get the governor's signature, the Connecticut Insurance Department said it believes the bill strikes a reasonable balance by allowing for a 6 percent rate band.
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