SB 126 Prohibits life insurers from taking underwriting actions or charging different rates based upon a person's past or future lawful travel destinations unless such action is based upon sound actuarial principles
Sponsor: Rupp
LR Number: 0844S.01T Fiscal Note: 0844-01
Committee: Small Business, Insurance and Industry
Last Action: 7/13/2009 - Signed by Governor Journal Page:
Title: Calendar Position:
Effective Date: August 28, 2009
House Handler: Yates

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Current Bill Summary

SB 126 - Under this act, no life insurance company shall deny or refuse to accept an application for life insurance, refuse to renew, cancel, restrict, or otherwise terminate a policy of life insurance, or charge a different rate for the same life insurance coverage, based upon the applicant's or insured's past or future lawful travel destinations. Nothing in this act shall prohibit a life insurance company from denying an application for life insurance, or charging a different premium or rate for such coverage under such policy based on a specific travel destination where the denial or rate differential is based upon sound actuarial principles or is related to actual or reasonably anticipated experience. Under the act, a violation constitutes an unfair trade practice. The act provides that it shall apply to life insurance policies issued or renewed on or after August 28, 2009.

This act is similar to SB 865 (2008).