|Posted:||December 19, 2014 12:26 PM|
|From:||Senator John C. Rafferty, Jr.|
|To:||All Senate members|
|Subject:||Property and Casualty - Notice of Rate Changes|
|I will be re-introducing legislation from last session (SB 580) which amends the Property and Casualty Insurance Act (P.L. 396, No 86) to provide doctors with at least 60 days notice (currently 30 days) for an increase in their insurance rates and at least 90 days notice (currently 60 days) for cancelation or termination of their insurance.
With ever increasing insurance rates or insurance cancelations, doctors should be given sufficient time to prepare financially for a large rate increase or sufficient time to find replacement insurance coverage.
Introduced as SB649