Substitute for Raised H.B. No. 6981
Session Year 2025


AN ACT CONCERNING ELECTRONIC POSTING OF CERTAIN DOCUMENTS BY INSURERS, NONRENEWAL OR CANCELLATION OF PROPERTY AND CASUALTY INSURANCE POLICIES, FEDERAL HOME LOAN BANKS AND THE INSURERS REHABILITATION AND LIQUIDATION ACT, HYPOTHECATION OF ASSETS AND SURPLUS LINES INSURANCE.

To: (1) Allow insurers to post certain insurance policies and endorsements on such insurers' Internet web sites; (2) allow property and casualty insurers to provide policy nonrenewal or cancellation notices by United States Postal Service intelligent mail barcode tracking; (3) extend certain protections to a Federal Home Loan Bank for any pledge, security, credit, collateral, loan, advance, reimbursement or guarantee agreement or arrangement or any similar agreement or arrangement or other credit enhancement to which such bank is a party with an insurance company that is under conservation, rehabilitation, liquidation or administrative supervision by the Insurance Department; (4) allow any domestic insurer, health care center or fraternal benefit society to pledge, hypothecate or encumber such insurer's, center's or society's assets in connection with participation in the Federal Home Loan Bank System; and (5) exempt insurance policies that are procured through unaffiliated wholesale surplus lines insurance brokers from the requirement that insurers and surplus lines insurers sign a statement that diligent efforts were made to obtain insurance from a licensed insurer.


Other Bills with Similar Topics

  Electronic funds transfers 

  Insurance companies 

  Insurance Department 

 

  Internet 

 

  Notices 

 

  Real estate 

 

  Reports 

 

  Studies 

 

  Homeowners' insurance cancellation