PRINTER'S NO. 2003
THE GENERAL ASSEMBLY OF PENNSYLVANIA
INTRODUCED BY CORMAN, EICHELBERGER, GORDNER, STACK, SOLOBAY, BRUBAKER, SCHWANK, ALLOWAY AND WHITE, APRIL 30, 2014
REFERRED TO BANKING AND INSURANCE, APRIL 30, 2014
1Amending the act of July 22, 1974 (P.L.589, No.205), entitled
2"An act relating to unfair insurance practices; prohibiting
3unfair methods of competition and unfair or deceptive acts
4and practices; and prescribing remedies and penalties,"
5further providing for definitions.
8Section 1. The definition of "renewal" or "to renew" in
9section 3 of the act of July 22, 1974 (P.L.589, No.205), known
10as the Unfair Insurance Practices Act, is amended and the
11section is amended by adding a definition to read:
12Section 3. Definitions.--As used in this act:
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1affiliated insurer, such renewal policy to provide types and
2limits of coverage at least equal to those contained in the
3policy being superseded, or the issuance and delivery of a
4certificate or notice extending the term of a policy beyond its
5policy period or term with types and limits of coverage at least
6equal to those contained in the policy being extended: Provided,
7however, That any policy with a policy period or term of less
8than twelve months or any period with no fixed expiration date
9shall for the purpose of this act be considered as if written
10for successive policy periods or terms of twelve months.
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12Section 2. This act shall take effect in 60 days.