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The Center for Consumer Information & Insurance Oversight

 

Virginia Rate Review Grants Award List

Cycle I Grant Application Summary


Virginia Grantee: Virginia Bureau of Insurance
Award Date: August 16, 2010
Award Amount: $1,000,000

  • Improve the Review Process: Virginia will expand the information required to be submitted with health insurance premium filings and will develop a procedures manual for the review of filings. The Commonwealth proposes to complete in-depth, targeted audits of filings of individual insurers with the largest market share and/or requesting the largest health insurance premium increases, in order to determine whether fundamental flaws in the process of developing rates exist and whether changes in the current rate review process are warranted.
  • Develop and Upgrade Technology: Virginia will improve its health insurance premium proposal reporting by upgrading is current systems.

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