75 Pa.C.S. § 2003 Waiting Period For Filings

• Library: Pennsylvania Statutes
• Edition: 2023
• Currency: Current through P.A. Acts 23-35
• Year: 2023
• Citation: 75 Pa.C.S. § 2003

(a) General rule.--Notwithstanding any other provision of law to the contrary and except as otherwise provided in subsection (b), no rate filing to which this chapter applies may become effective prior to the expiration of a waiting period of 60 days from the date the filing is received by the commissioner. This 60-day period may be extended an additional 30 days by the commissioner upon written notice to the insurer or rating organization making the filing.

(b) Exceptions.--The waiting period and extensions thereof required by subsection (a) shall not apply in the following circumstances:

(1) When an insurer or rating organization makes written application, the commissioner may authorize a filing or part thereof which has been reviewed to become effective prior to the expiration of the waiting period or any extension thereof as provided in subsection (a).