|March 26, 2014 11:24 AM
|Representative Mike Tobash
|All House members
|Co-Sponsor Memo - Affiliate Company Transfer
In the near future, I plan to introduce two pieces of legislation which will streamline the manner in which auto insurance and homeowner insurance customers are to be transferred between corporate affiliates.
Currently, insurers are required to non-renew existing policies under one affiliate in order to transfer the policies to another affiliate. This causes unnecessary confusion and concern for policyholders and is an administratively burdensome process for insurers. This legislation would eliminate this requirement in both automobile and homeowners insurance and allow insurers to move customers, from one affiliate to another without having to go through the non-renewal process.
Similar legislation has already been enacted in 35 other states.
Please join me in co-sponsoring these two legislative proposals.
I will be introducing the legislation this Friday, March 28.
Introduced as HB2136