Insurance companies; clarifies and updates provisions regarding notices to applicants, etc. (HB307)
Introduced By
Del. Kathy Byron (R-Lynchburg)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Insurance notices. Clarifies and updates provisions regarding notices from insurance companies to applicants and policyholders. The measure amends the requirement that insurers give insureds notice when increasing the premium on their policies due to accidents to clarify that insurers are required to inform insureds that they have 60 days to seek a review by the Bureau of Insurance of the application of a surcharge. The notice requirements regarding uninsured motorist coverage (UM/UIM) is updated to allow the practice under which insurers give applicants the opportunity to request UM/UIM limits equal to their liability limits or to request lower UM/UIM limits, as long as the lower limits are at least $25,000/$50,000/$20,000. Other changes clarify which notices are required to be given on new business policies only rather than on new and renewal business policies. Read the Bill »
Outcome
History
| Date | Action |
|---|---|
| 01/04/2016 | Committee |
| 01/04/2016 | Prefiled and ordered printed; offered 01/13/16 16101547D |
| 01/04/2016 | Referred to Committee on Commerce and Labor |
| 01/10/2016 | Impact statement from SCC (HB307) |
| 01/21/2016 | Reported from Commerce and Labor (21-Y 0-N) (see vote tally) |
| 01/25/2016 | Read first time |
| 01/26/2016 | Read second time and engrossed |
| 01/27/2016 | Read third time and passed House BLOCK VOTE (99-Y 0-N) |
| 01/27/2016 | VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (see vote tally) |
| 01/28/2016 | Constitutional reading dispensed |
| 01/28/2016 | Referred to Committee on Commerce and Labor |
| 02/29/2016 | Reported from Commerce and Labor (14-Y 0-N) (see vote tally) |
| 03/02/2016 | Constitutional reading dispensed (40-Y 0-N) (see vote tally) |
| 03/03/2016 | Read third time |
| 03/03/2016 | Passed Senate (39-Y 0-N) (see vote tally) |
| 03/03/2016 | Reconsideration of Senate passage agreed to by Senate (36-Y 0-N) (see vote tally) |
| 03/03/2016 | Passed Senate (40-Y 0-N) (see vote tally) |
| 03/07/2016 | Enrolled |
| 03/07/2016 | Bill text as passed House and Senate (HB307ER) |
| 03/07/2016 | Signed by Speaker |
| 03/08/2016 | Impact statement from SCC (HB307ER) |
| 03/09/2016 | G Governor's Action Deadline Midnight, Monday, April 11, 2016 |
| 03/09/2016 | Signed by President |
| 03/09/2016 | Enrolled Bill communicated to Governor on 3/9/2016 |
| 03/09/2016 | G Governor's Action Deadline Midnight, Sunday, April 10, 2016 |
| 03/18/2016 | Impact statement from SCC (HB307ER) |
| 03/29/2016 | G Approved by Governor-Chapter 558 (effective 1/1/17) |
| 03/29/2016 | G Acts of Assembly Chapter text (CHAP0558) |