Massachusetts 2023-2024 Regular Session

Massachusetts House Bill H1132

Introduced
2/16/23  

Caption

To protect consumers in the issuance of automobile insurance policies and bonds

Impact

This bill, if passed, would have a significant effect on the state's insurance laws by mandating that the content of automobile insurance policies meet specific standardized requirements. The requirement for approval from the commissioner introduces a level of regulatory oversight intended to prevent confusion among consumers regarding their insurance options. Furthermore, the bill stipulates that any changes to coverage or definitions in existing policies must also undergo a rigorous approval process, thereby protecting consumers from unexpected alterations in their insurance terms.

Summary

House Bill H1132, introduced by Representative Jeffrey N. Roy, aims to enhance consumer protection in the issuance of automobile insurance policies and bonds in Massachusetts. The bill proposes amendments to Section 113A of Chapter 175 of the General Laws, which governs motor vehicle liability policies. The key provision of this bill requires that all motor vehicle liability policies conform to a standardized uniform policy text that is approved by the state's commissioner. This regulation is designed to ensure that consumers receive clear and consistent information about their coverage options, both compulsory and optional.

Contention

While the bill is intended to provide clarity and protect consumers, there may be contention surrounding the degree of regulatory oversight it introduces. Insurance companies may express concerns that stringent regulation will limit their flexibility in developing policies tailored to unique consumer needs. Additionally, stakeholders in the financial services sector might debate the balance between free market principles and necessary consumer protections. This highlights a potential conflict between the interests of insurers and the need for accountability and transparency in the selling of insurance products.

Companion Bills

MA H1130

Similar To To protect consumers in the issuance of automobile insurance policies and bonds

MA H1128

Similar To To protect consumers in the issuance of automobile insurance policies and bonds

MA H4691

Replaced by Auto and health insurance

Previously Filed As

MA H1130

To protect consumers in the issuance of automobile insurance policies and bonds

MA H1128

To protect consumers in the issuance of automobile insurance policies and bonds

MA H1304

Relative to the compulsory automobile insurance limits

MA H311

Modernizing protections for consumers in automobile transactions

MA S171

Modernizing protections for consumers in automobile transactions

MA S228

Modernizing protections for consumers in automobile transactions

MA H379

Modernizing protections for consumers in automobile transactions

MA S2736

Modernizing protections for consumers in automobile transactions

MA A5897

Revises personal injury protection coverage for basic automobile insurance policies from $15,000 to $50,000 and requires $50,000 minimum personal injury protection coverage for standard automobile liability insurance policies.

MA S1473

Revises personal injury protection coverage for basic automobile insurance policies from $15,000 to $20,000 and requires $50,000 minimum personal injury protection coverage for standard automobile liability insurance policies.

Similar Bills

No similar bills found.