Requires disclosure, in such form as the superintendent shall require, of non-confidential information regarding step therapy override requests and determinations on a website that is readily accessible to the public.
Requires investigating of critical prescription drug pricing; provides for civil penalties and private actions for certain critical prescription drug pricing.
Requires certain insurance policies allow patients additional screenings for breast cancer when the provider deems such screening is necessary under nationally recognized clinical practice guidelines.
Provides that an insurer doing business in this state shall be liable to a policy holder for such insurer's refusal to pay or unreasonable delay of payment to the policy holder if such refusal or delay was not substantially justified; enumerates instances whereby an insurer's refusal or delay of payment is not substantially justified including intentional negligence, failure to act in good faith, failure to provide written denial of claim, failure to make final determination of claim within six months, and failure to promptly proceed with the appraisal process.
Restricts insurers from demanding intrusive personal, financial and tax information from insureds as a standard practice in processing ordinary theft claims where no special circumstances warranting a demand for such information exists.
Prohibits cancellation, non-renewal or conditioning renewal of automobile insurance of a policyholder solely as a result of a dispute or a complaint pending against the insurer.
Requires the terms and conditions of any individual life insurance policy loan to be in writing, be signed by the insured and the agent and contain a signed statement that the agent has explained the terms to the policyholder.
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.
Provides that prescriptions covered by insurance, that would otherwise be required to be filled by mail order, may be filled at a retail pharmacy under certain circumstances.
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.