1Amending the act of May 17, 1921 (P.L.682, No.284), entitled "An 
2act relating to insurance; amending, revising, and 
3consolidating the law providing for the incorporation of 
4insurance companies, and the regulation, supervision, and 
5protection of home and foreign insurance companies, Lloyds 
6associations, reciprocal and inter-insurance exchanges, and 
7fire insurance rating bureaus, and the regulation and 
8supervision of insurance carried by such companies, 
9associations, and exchanges, including insurance carried by 
10the State Workmen's Insurance Fund; providing penalties; and 
11repealing existing laws," further providing for definitions.

12The General Assembly of the Commonwealth of Pennsylvania
13hereby enacts as follows:

14Section 1. The definition of "renewal" or "to renew" in
15section 2001 of the act of May 17, 1921 (P.L.682, No.284), known
16as The Insurance Company Law of 1921, added June 17, 1998
17(P.L.464, No.68), is amended <-and the section is amended by 
18adding a definition to read:

19Section 2001. Definitions.--As used in this article, the
20following words and phrases shall have the meanings given to
21them in this section:

<-22"Affiliated insurer." An insurer that is an affiliate as
 

1defined in section 1401.

2* * *

3"Renewal" or "to renew." To issue and deliver at the end of
4an insurance policy period a policy which supersedes a policy
5previously issued and delivered by the same insurer or 
6affiliated insurer and which provides types and limits of
7coverage at least equal to those contained in the policy being
8superseded, or to issue and deliver a certificate or notice
9extending the term of a policy beyond its policy period or term
10with types and limits of coverage at least equal to those
11contained in the policy being extended: Provided, however, That
12any policy with a policy period or term of less than twelve (12)
13months or any period with no fixed expiration date shall for the
14purpose of this article be considered as if written for
15successive policy periods or terms of twelve (12) months.

16Section 2. This act shall take effect in 60 days.