AN ACT RELATING TO INSURANCE -- PRODUCER LICENSING ACT

Summary

The bill forces property and casualty insurers to notify producers 14 months in advance before ending their authority and 180 days before altering any contract terms, including compensation. It also requires insurers to keep renewing the producer’s policies for the notice period at the same pay rate. Exceptions apply for dishonest conduct, revoked licenses, surrendered company licenses, or when the producer is an employee.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share