Long-term care insurance; rate increases, notice requirements.

Long-term care insurance; rate increases; notice requirements. Requires an insurer of long-term care insurancepolicies to notify its customers and applicants in writing of theinsurer's filing for a rate increase with the State Corporation Commissionwithin 60 days of making such filing. Under the bill, if the Commissionhas approved a rate increase, an insurer of long-term care insurancepolicies must notify its customers and applicants in writing of therate increase at least 90 days before the effective date of the rateincrease. The bill includes several requirements for each of thesenotices, requires the Commission to consider the public interest in approving any such rate increase, and prohibits using a rate increaseto pay for losses incurred by an insurance company or its shareholdersor to pay shareholder dividends.