An Act relative to notifying broker prior to termination of coverage
Senate: Bill reported favorably by committee and referred to the committee on Senate Ways and Means
Summary
The bill requires insurers to send a notice of an upcoming lapse to the policy’s broker or agent at least 21 days before coverage ends. The notice does not make the broker liable, and insurers are exempt if they already provide an online notice system, have a procedure to confirm the notice, lack a record of the broker, or the broker works for the insurer.
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