House Insurance Committee Meeting 2/07/06
Jan 4, 2007
Yesterday the House Insurance Committee approved a bill relating to the termination of insurance agent appointments, which increased the notice period an insurer must give an agent of termination unless the contract between the agent and insurer provides otherwise.
Under current law, an appointment can be terminated at any time by the appointing entity upon a minimum of 60 days written notice to the appointed agent, or by any other amount of time as specified by the contract between the agent and insurer. House Bill 355 increased the minimum notice time from 60 days to 120 days, and deleted the provision in current statute that allows an insurer and agent to contract for a different amount of time. After debate in the Insurance Committee, the bill was amended allow an insurer and an agent to contract for an amount of notice other than 120 days.
The Committee also considered bills relating to Home Warranty Associations, self-insurance for non-profit organizations, motor vehicle insurance for foster children, and nursing services.
Attached you will find a copy of the Insurance Committee meeting packet and Committee Action packet. Should you have any questions or concerns, please feel free to contact this office.
Regards,
Katherine A. Scott