| SB 974 |
Modifies provisions relating to cancellation or nonrenewal for automobile and homeowner's insurance policies |
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| LR Number: |
6073S.01I |
Fiscal Notes |
| Committee: |
Small Business, Insurance and Industry |
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| Last Action: |
3/15/2016 - SCS Voted Do Pass S Small Business, Insurance and Industry Committee (6073S.02C) |
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| Effective Date: |
August 28, 2016 |
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Current Bill Summary
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SCS/SB 974 - This act specifies that an assignment or transfer of a policy among affiliated insurers within an insurance holding company system is not a cancellation or nonrenewal for automobile and homeowner's insurance policies. Insurers are required to provide notice to an insured of assignment or transfer of the policies prior to providing coverage for a subsequent policy term. This act is similar to provisions contained in SS/SCS/HCS/HB 2194 (2016). JESSI BAKER
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