The purposes of this Act are: [1991, c. 885, Pt. B, §12 (NEW); 1991, c. 885, Pt. B, §13 (AFF).]
1.Prohibition of certain behavior. To prohibit price-fixing agreements and other anticompetitive behavior by insurers; [1991, c. 885, Pt. B, §12 (NEW); 1991, c. 885, Pt. B, §13 (AFF).]
2.Protection for policyholders and the public. To protect policyholders and the public from the adverse effects of excessive, inadequate or unfairly discriminatory rates; [1991, c. 885, Pt. B, §12 (NEW); 1991, c. 885, Pt. B, §13 (AFF).]
3.Promotion of price competition. To promote price competition among insurers so as to provide rates that are responsive to competitive market conditions; [1991, c. 885, Pt. B, §12 (NEW); 1991, c. 885, Pt. B, §13 (AFF).]
4.Provision of regulatory procedures. To provide regulatory procedures for the maintenance of appropriate data reporting systems; [1991, c. 885, Pt. B, §12 (NEW); 1991, c. 885, Pt. B, §13 (AFF).]
5.Improvement of insurance. To improve availability, fairness and reliability of insurance; [1991, c. 885, Pt. B, §12 (NEW); 1991, c. 885, Pt. B, §13 (AFF).]
6.Authorization of action. To authorize essential cooperative action among insurers in the rate-making process and to regulate such activity to prevent practices that tend to substantially lessen competition or create a monopoly; and [1991, c. 885, Pt. B, §12 (NEW); 1991, c. 885, Pt. B, §13 (AFF).]
7.Encouragement of practices. To encourage the most efficient and economical marketing practices. [1991, c. 885, Pt. B, §12 (NEW); 1991, c. 885, Pt. B, §13 (AFF).]
1991, c. 885, §B12 (NEW) . 1991, c. 885, §B13 (AFF) .