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2005 SESSION

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HB 1882 Miscellaneous casualty insurance; notices and policy provisions.

Introduced by: Frank D. Hargrove, Sr. | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Miscellaneous casualty insurance; notices; policy provisions.  Requires insurers to deliver written notice of cancellation, renewal, reduction in coverage, or certain rate increases to the named insured under policies of miscellaneous casualty insurance issued to a business entity. Miscellaneous casualty policies insure against liability, and against loss, damage or expense arising out of injury to the economic interests of any person. The measure also requires policies insuring against liability for injury to the economic interests of any person to include provisions regarding the insolvency or bankruptcy of the insurer and when an action may be maintained by the insured against the insurer.


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