|Posted:||April 24, 2014 04:13 PM|
|From:||Senator Jake Corman|
|To:||All Senate members|
|Subject:||Simplifying affiliate insurance transfers|
|In the near future, I plan to introduce two pieces of legislation which will simplify the manner in which auto insurance and homeowner insurance customers are 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 been enacted in 35 states.
If you have any questions on the legislation, please feel free to contact my office.
Introduced as SB1356