SENATE AMENDED
PRIOR PRINTER'S NOS. 724, 967 PRINTER'S NO. 1795
No. 659 Session of 1995
INTRODUCED BY REINARD, MICOZZIE, COLAFELLA, LAWLESS, ADOLPH,
DURHAM, NICKOL, DEMPSEY, SATHER, SCHRODER, HERMAN, GANNON,
GLADECK, CIVERA, MELIO, ROONEY, TANGRETTI, BUXTON, PESCI AND
STRITTMATTER, FEBRUARY 8, 1995
SENATOR HOLL, BANKING AND INSURANCE, IN SENATE, AS AMENDED,
MAY 2, 1995
AN ACT
1 Amending the act of July 3, 1986 (P.L.396, No.86), entitled "An
2 act requiring notice of rate increases, policy cancellations
3 and nonrenewals by property and casualty insurers," further
4 providing for increases in premium rates.
5 The General Assembly of the Commonwealth of Pennsylvania
6 hereby enacts as follows:
7 Section 1. Section 1 of the act of July 3, 1986 (P.L.396,
8 No.86), entitled "An act requiring notice of rate increases,
9 policy cancellations and nonrenewals by property and casualty
10 insurers," is amended to read:
11 Section 1. Notice of increase in premium.
12 Notwithstanding any other provision of law, a policy of
13 insurance covering commercial property or casualty risks in this
14 Commonwealth shall provide [for not less than 60 days' notice of
15 intent to increase the insured's renewal premium] the named <--
16 insured with 30 days' advance notice of an [estimate of the] <--
17 increase in renewal premium] FOR NOT LESS THAN 30 DAYS' ADVANCE <--
1 NOTICE TO THE NAMED INSURED OF AN INCREASE IN RENEWAL PREMIUM.
2 This section shall not apply to policies written on a
3 retrospective rating plan.
4 Section 2. This act shall take effect in 60 days.
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