Exempts private air ambulance services from insurance licensing and other requirements if the private ambulance service meets certain enumerated qualifications.
Permits a waiver of the diligent effort requirement in limited circumstances for certain insurance coverage to be placed by licensed excess line brokers with unauthorized insurers where a retail producing insurance broker seeks to procure or place commercial lines insurance through an unaffiliated wholesale excess line insurance broker.
Relates to mortgage guaranty insurance; allows for withdrawals from the contingency reserve if the superintendent determines that such withdrawals will not be harmful to policy holders.
Addresses non-covered dental services by requiring all policies providing coverage of and all contracts for dental services issued to include a disclosure stating that a participating provider may charge their normal fee for services that are not covered; requires a cost estimate to be provided.
Establishes patient safety and quality assurance measures regarding the distribution of patient-specific medication from an insurer-designated pharmacy; prohibits certain "brown bagging" and "white bagging" policies regarding pharmacy provided medications.
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.
Requires the office of addiction services and supports to collect certain demographic data for incarcerated individuals in medication assisted treatment programs.
Prohibits insurers from reducing disability benefits due to the actual or anticipated receipt of social security disability benefits unless certain conditions are met.
Includes permissible payment methods, advance consent for direct payments, and annually providing the updated rate schedule as required terms for certain insurance contracts.
Directs the state insurance fund to compensate insurance brokers for services provided to clients who obtain coverage through the fund; establishes within the existing rate structure a factor to compensate licensed insurance producers for services provided to clients who obtain coverage through the fund.
Authorizes the superintendent of financial services to hire a consultant to assist with reviewing any rate or form filing submitted to the superintendent.
Relates to claims for loss or damage to real property; creates continuing education requirements for licensed persons and qualifications for public and independent adjusters; allows for a revocation of licenses with an opportunity to reapply for such licenses.
Authorizes the imposition of penalties on subcontractors for failure to adhere to the standards for prompt, fair and equitable settlement of claims for health care and payments for health care services.