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Committee narrows insurance bill, exempting commercial property from assignment-of-benefits ban
Summary
Senate Bill 55, which would prohibit assignment of benefits under property and casualty insurance and deem it an unfair or deceptive practice, was amended to exempt commercial property policies; the amendment passed and the bill was moved out of committee as amended.
The Senate committee considered Senate Bill 55, aimed at prohibiting assignment of benefits under property and casualty insurance and labeling such assignments "an unfair or deceptive trade act or practice." Eileen, committee staff, summarized the bill before members took up an amendment.
Senator Warren said she had…
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