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Senate advances broad insurance law package, including adoption benefit and insurer withdrawal rules
Summary
The Senate advanced fourth substitute Senate Bill 76, a comprehensive insurance bill that includes technical fixes, expanded fee authority for the insurance commissioner, adoption-benefit language, and new orderly-withdrawal rules for insurers; senators debated timing of adoption payments and consumer protections.
The Utah State Senate on Feb. 6 advanced fourth substitute Senate Bill 76, a wide-ranging rewrite of insurance statutes that sponsors described as annual technical updates plus several consumer protections.
Senator Colton, who presented the measure, told colleagues the bill combines technical corrections with substantive changes that affect market oversight, insurer conduct and consumer benefits. "It increases his ability, to charge, fees from penalties that are assessed to insurance companies," Colton said on the floor, referring…
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