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Matt Brady

Matt Brady
Senior Director
Media and Federal Advocacy Communications

Telephone: 202.580.6742

Lisa Floreancig

Lisa Floreancig
Public Affairs Director
State Affairs

Telephone: 317.876.4246

NAMIC Opposes Rhode Island Flex-Rating Repeal

The National Association of Mutual Insurance Companies (NAMIC) opposed Rhode Island legislation, H. 7795, that would repeal the state’s flex-rating law for personal lines.

“NAMIC has long-supported flex rating as an important element of regulatory modernization,” said John Murphy, NAMIC’s state affairs director for the Northeast region. “Repeal of flex rating would be a major step backward both from a regulatory efficiency standpoint and from the goal of having a modern, competitive marketplace.”

Under flex rating, the filing is presumed to comply with the rating law and may be implemented immediately instead of waiting for review and approval from the insurance department.

“Flex rating allows carriers to respond to market conditions in real time, thus encouraging competition and permitting the insurance department to redeploy its resources to other priorities,” Murphy said. “It’s important to note that consumer protections remain in place under flex rating as carriers still must be able to justify the rates, and the regulator still has oversight and enforcement authority. Only the process has been expedited.”


Lisa Floreancig
Public Affairs Director, State & Policy Affairs