Note
Commercial liability insurance; tort reform. L Sp 1986, c 2, as amended by L 1987, c 231; L 1989, c 300; L 1991, c 62; L 1993, c 238; L 1995, c 130.
§431:14-101 Purpose. The purpose of this article is to promote the public welfare by regulating insurance rates to the end that they shall not be excessive, inadequate, or unfairly discriminatory, and to authorize and regulate cooperative action among insurers in ratemaking and ratemaking related activities and in other matters within the scope of this article. Nothing in this part is intended to:
(1) Prohibit or discourage reasonable competition; or
(2) Prohibit or encourage except to the extent necessary to accomplish the aforementioned purposes, uniformity in insurance rates, rating systems, rating plans, or practices.
This article shall be liberally interpreted to carry into effect the provisions of this section. [L 1987, c 347, pt of §2; am L 1990, c 255, §6]