HB16-1025
Renewal Property Casualty Insurance
Concerning statutory recognition that an insurance policy may be subject to renewal by an admitted insurer within the same insurance group as the insurer that issued the insurance policy.
Session:
2016 Regular Session
Subject:
Bill Summary
Insurance
In the property and casualty insurance laws, the act adds the term 'admitted company within the same insurance group' to the definitions of 'renewal' or 'to renew' in order to acknowledge that an insurance policy may be subject to renewal by an insurer or an admitted company within the same insurance group as the insurer when a policy is renewed.
(Note: This summary applies to this bill as enacted.)
(Note: This summary applies to this bill as enacted.)