|Posted:||January 10, 2017 11:31 AM|
|From:||Senator John C. Rafferty, Jr.|
|To:||All Senate members|
|Subject:||Property and Casualty Insurance- Notice for Individual Rate Payers|
|I will be re-introducing legislation, SB 467, to amend the Property and Casualty Insurance Act (P.L. 396, No 86) to provide insurance rate payers 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, rate payers should be given sufficient time to prepare financially for a large rate increase or sufficient time to find replacement insurance coverage.
Introduced as SB620