General Assembly Committee Bill No. 8
January Session, 2015 LCO No. 870
*00870SB00008INS*
Referred to Committee on INSURANCE AND REAL ESTATE
Introduced by:
(INS)
General Assembly
Committee Bill No. 8
January Session, 2015
LCO No. 870
*00870SB00008INS*
Referred to Committee on INSURANCE AND REAL ESTATE
Introduced by:
(INS)
AN ACT CONCERNING THE DISCLOSURE OF FEES FOR THE PROCESSING OF PERSONAL AND COMMERCIAL RISK INSURANCE POLICY PREMIUM PAYMENTS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. (NEW) (Effective October 1, 2015) Each insurer that delivers, issues for delivery, renews, amends or endorses a personal risk or commercial risk insurance policy, as both terms are defined in section 38a-663 of the general statutes, on or after October 1, 2014, shall disclose to an applicant and each insured any fees for the processing of premium payments charged by such insurer or other entity that provides billing services to such insurer. The insurer or other entity that provides billing services to an insurer shall conspicuously display any such fee on each premium billing notice.
This act shall take effect as follows and shall amend the following sections:
Section 1 October 1, 2015 New section
This act shall take effect as follows and shall amend the following sections:
Section 1
October 1, 2015
New section
Statement of Purpose:
To require disclosure of any fees charged by an insurer or other entity that provides billing services to such insurer for the processing of personal risk or commercial risk insurance premium payments.
[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]
Co-Sponsors: SEN. CRISCO, 17th Dist.
Co-Sponsors:
SEN. CRISCO, 17th Dist.
S.B. 8