Requires the department of financial services to fulfill certain requirements to implement homeowner natural disaster preparedness, home safety and loss prevention courses.
Relates to the distribution of the foreign and alien fire insurance premium tax; provides amount received shall be distributed to the fire companies in proportion to the number of active members within each company.
Relates to alternative forms of identification for renters insurance, including a municipal identification card, or other state or local government-issued identification card, or a notarized copy of the rental lease signed by the property owner, the property management firm and the insured.
Enacts the "construction insurance transparency act" to require insurers providing coverage for liability under the scaffold law to report, on an annual basis, to the superintendent of financial services relating to its finances and claims paid thereunder.
Provides that group health insurance policies offered in the large group market that is issued, amended, or renewed in this state shall provide coverage for corrective lenses used to correct the sight of individuals medically diagnosed with color vision deficiency.
Prohibits cost sharing for insulin; provides that an insured shall not be subject to a deductible, copayment, coinsurance or any other cost sharing requirement for the purchase of insulin.
Provides that the superintendent of financial services shall establish standards for hurricane windstorm deductibles, creating uniformity in the operation of such deductibles with respect to the triggering event.
Relates to summaries of readable and understandable insurance policies which shall include the limits of insurance, the term of the policy, the amount of premium and the amount of deductibles and a statement.
Relates to wireless communications equipment insurance for wireless communications equipment vendors; describes prerequisites for issuance of a limited license for wireless communications equipment vendors.
Relates to gender indication on insurance claim forms; provides policies shall not exclude coverage if gender indication is different from sex assigned at birth or gender otherwise recorded.
Reduces the minimum nonforfeiture interest rate for annuities from one percent to one half of one percent for annuities during the surrender charge period, and from one percent to fifteen hundredths of one percent during any contract period with no surrender charge.