On Feb. 26, IOW LEG bill on personal lines policy renewal notices.
IOW LEG enrolled HF 2265 (SF 2359) on nonrenewal of personal lines policies.
Amends IOW INS 515.129B on the nonrenewal of personal lines policies or contracts.
Bill Provisions
An insurer shall not refuse to renew a personal lines policy or contract of insurance unless notice is given at least sixty days before the end of the policy or contract.
An insurer shall mail or deliver to the last known address of the insured a renewal policy, offer to renew, or a notice of nonrenewal sixty days before policy term end.
Legislative History
On Feb. 1, 2024, bill introduced in the House; on Feb. 20, 2024, bill passed in House.
On Feb. 20, 2024, bill introduced in Senate; on Feb. 26, 2024, bill passed in Senate.
Effectiveness
Bill SF 197 will become effective Jan. 1, 2025, upon governor signing bill into law.
Apr. 2024 IOW LEG Governor Approval
On Apr. 10, 2024, IOW LEG reported governor approved bill, effective on Jan. 1, 2025.
Regulators
IOW LEG
Entity Types
Ins
Reference
Bill, 4/10/2024; Bill SF2359, HF2265, 2/26/2024; Citation: IOW INS 515.129B;
