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Senate Advances Disclosure Bill Requiring Insurers to Explain Disability Offsets
Summary
The Utah Senate advanced a bill by Sen. Wynn Richards requiring insurance agents to disclose offsets in disability policies; sponsors framed it as a consumer disclosure measure while opponents warned of possible premium impacts. The measure was moved to the third-reading calendar.
The Utah State Senate on Jan. 21 moved forward a bill aimed at clarifying how disability insurance benefits are offset by other payments, after floor debate over whether the change would raise premiums or simply improve consumer notice.
Senator Wynn Richards, sponsor of the measure, told colleagues the bill is “strictly a disclosure”…
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