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Committee approves bill extending insurer notice to agents to 60 days
Summary
Lawmakers passed a bill that lengthens the notice period insurance companies must give agents before a rate increase, from 30 days to 60 days to provide agents more lead time to advise customers.
A brief bill to extend insurer notice time to agents passed the committee by voice vote.
The sponsor told the committee that some policyholders have seen premium increases of 25% or more and that current practice gives agents 30 days’ notice while consumers get 10 days; the measure would require insurers to give agents 60 days’ notice. Representative Lundstrom recommended a do‑pass and the committee approved the bill by voice vote.
No opponents testified during the committee hearing recorded in the transcript.
