Regards insurance transactions, plans, and policies

Summary

It lets insurers use electronic signatures, clarifies key definitions, tightens licensing standards for insurance agents, and limits the types and amounts of assets insurers may hold. It also adds reporting requirements for derivatives, sets conditions for captive insurers and assigned‑risk plans, and gives vehicle owners a right to sue towing or storage services. The changes affect insurers, agents, captive insurers, and motorists, aiming to improve oversight and protect consumers.

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