Montana HB114 revises consumer protection laws, prohibiting unfair financial planning practices and unfair claim settlement practices, and regulating.
Montana HB114 revises consumer protection laws by prohibiting unfair financial planning practices, such as misrepresenting insurance benefits or failing to act promptly on claims. It also addresses unfair claim settlement practices, including misrepresenting policy provisions or delaying claim investigations. The bill regulates insurance producers, prohibiting them from charging fees for financial planning services when only selling insurance and requiring them to disclose their role and any commissions they may receive.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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