DISB will hold a public hearing on private passenger automobile insurance premiums and rating factors.
January 30, 2018
One Judiciary Square
Old Council Chambers
441 4th Street, N.W.
Washington, D.C. 20001
Stephen C. Taylor, Commissioner of the Department of Insurance, Securities and Banking (Department), hereby gives notice of his intent to conduct a public hearing to review private passenger (noncommercial) automobile insurance premiums in the District of Columbia. The hearing will be held at 1:30 p.m. on Tuesday, January 30, 2018, at One Judiciary Square, 441 4th Street, NW, Washington, DC 20001, in the Old Council Chambers.
The purpose of the public hearing is to review the justifications and impacts of recent large increases in the premium rates for automobile insurance in the District. Also, the hearing will provide insight into the current automobile insurance market and identify any areas for changes to improve the cost, availability and transparency of private passenger automobile insurance. The Department will accept comments on other elements of automobile insurance premiums, including a review of price optimization, rating models and the use and impact of credit scores in underwriting.
The Department invites the public to testify or submit written testimony. Any person or organization wishing to testify at the hearing should contact the Department via email at [email protected] or at (202) 442-7754, by 5:00 p.m. on Friday, January 26, 2018, to have their names added to the witness list. Each witness should provide their name, telephone number, organizational affiliation (if any), and title (if any). Written statements should be sent to the email address above or mailed to the Department at District of Columbia Department of Insurance, Securities and Banking, 1050 First Street, NE, Suite 801, Washington, DC 20002, Attention: Christian Washington.
Time limits may be imposed for oral testimony. Representatives of organizations will be allowed a maximum of five minutes, and individuals will be allowed a maximum of three minutes. Witnesses are requested to bring five copies of their written testimony.
If a party or witness is deaf, has a hearing impediment, or otherwise cannot readily understand or communicate in English, the party or witness may apply to the Department for the appointment of a qualified interpreter. In addition, if any witness to be called requires any other special accommodations, please contact the Department at (202) 442-7754 at least three business days prior to the hearing.