Requires insurers to notify policyholders of premium increases and provide explanations.
Beginning January 1, 2022, insurers must notify policyholders of premium increases and provide explanations. Insurers must respond to policyholder requests for additional information within a specified timeframe. Insurers must send premium change notices to policyholders in writing or electronically within a certain number of days after the effective date of this Act. The insurance commissioner shall review all written statements submitted by insurers and submit a report to the legislature.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
Analyze for Free
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.