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HCS/HB 2194 - 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. If after the assignment or transfer of a policy the coverage will not be substantially equivalent to the coverage in the policy prior to the assignment or transfer, then the insurer must notify the policyholder that some coverage provisions will change. This act is similar to SCS/SB 974 (2016). JESSI BAKER
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