HB 1022 Authorizes a return of premiums paid by insureds
Sponsor: Parson
LR Number: 2164H.01T Fiscal Notes
Committee: Small Business, Insurance and Industry
Last Action: 9/16/2015 - Legislature voted to override Governor's veto Journal Page: H31
Title: Calendar Position:
Effective Date: August 28, 2015
House Handler: Gosen

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Current Bill Summary

HB 1022 - This act authorizes a return or refund of a portion of expense savings to an insured in cases where an insured makes no reportable claim under specified coverages within a prescribed period of time. This act further states that such a return or refund shall not constitute a rebate or an unfair trade practice.

This act is identical to HB 1114 (2015) and a provision contained in HCS/SB 282 (2015) and nearly identical to SB 470 (2015).