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Senate advances consumer notice requirements for insurance rate and cancellation changes
Summary
The committee approved measures requiring insurers to give policyholders more notice of rate changes and of cancellations/nonrenewals, while adopting insurer‑recommended technical edits; lawmakers and regulators discussed limits where surplus lines policies or operational timing could affect implementation.
The Senate Committee on Commerce and Consumer Protection voted Feb. 14 to advance multiple insurance consumer‑protection bills that lengthen notice requirements for rate changes and for cancellations or nonrenewals of property‑casualty policies.
SB 1137 would require insurers to notify policyholders of rate changes within 30 days of approval by the insurance commissioner and at least 30 days…
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