(at the request of Governor Tina Kotek for Department of Consumer and Business Services)
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Bill Title:
Relating to explanations required in connection with premium increases upon renewals of certain insurance policies; prescribing an effective date.
Catchline/Summary:
Requires an insurer to provide to an insured a clear and reasonable explanation of the reasons for any increase in the premium amount for a qualified policy upon renewal of the qualified policy. Digest: Tells insurers to explain to policy holders why the premium will go up when the policy is renewed. Tells insurers what they must say to policy holders. Goes into effect 91 days after the session ends. (Flesch Readability Score: 60.7).
Requires an insurer to provide to an insured a clear and reasonable explanation of the reasons for any increase in the premium amount for a qualified policy upon renewal of the qualified policy. Specifies standards for a clear and reasonable explanation.
Takes effect on the 91st day following adjournment sine die.
Chapter Number:
Fiscal Impact:
May Have Fiscal Impact, But No Statement Yet Issued
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HB 2563 House Committee On Commerce and Consumer Protection
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