Bill Text: IA SSB3136 | 2023-2024 | 90th General Assembly | Introduced
Bill Title: A bill for an act relating to the notice requirement for the renewal or nonrenewal of personal lines policies, and including effective date provisions.(See SF 2359.)
Spectrum: Committee Bill
Status: (Introduced - Dead) 2024-02-14 - Committee report approving bill, renumbered as SF 2359. [SSB3136 Detail]
Download: Iowa-2023-SSB3136-Introduced.html
Senate
Study
Bill
3136
-
Introduced
SENATE
FILE
_____
BY
(PROPOSED
COMMITTEE
ON
COMMERCE
BILL
BY
CHAIRPERSON
BROWN)
A
BILL
FOR
An
Act
relating
to
the
notice
requirement
for
the
renewal
1
or
nonrenewal
of
personal
lines
policies,
and
including
2
effective
date
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
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_____
Section
1.
Section
515.129B,
subsection
1,
Code
2024,
is
1
amended
to
read
as
follows:
2
1.
An
insurer
shall
not
refuse
to
renew
a
personal
lines
3
policy
or
contract
of
insurance
unless
at
least
thirty
sixty
4
days
before
the
end
of
the
policy
or
contract
period
the
5
insurer
delivers,
mails,
or
electronically
transmits
to
the
6
first
named
insured,
at
the
last
known
address
of
the
first
7
named
insured,
written
notice
of
the
insurer’s
intention
not
8
to
renew
the
policy
or
contract
upon
expiration
of
the
current
9
policy
or
contract
period
as
provided
in
section
515.129C
.
10
Proof
of
such
mailing,
electronic
transmission,
or
delivery
11
to
the
first
named
insured’s
last
known
address
shall
be
12
maintained
by
the
insurer.
13
Sec.
2.
Section
515.129C,
subsection
1,
unnumbered
14
paragraph
1,
Code
2024,
is
amended
to
read
as
follows:
15
At
least
thirty
sixty
days
before
the
end
of
the
policy
or
16
contract
term,
an
insurer
shall
mail
or
deliver
to
the
last
17
known
address
of
the
first
named
insured
a
renewal
policy
or
18
contract,
an
offer
to
renew
the
current
policy
or
contract,
or
19
a
notice
of
nonrenewal
of
the
policy
or
contract.
Information
20
concerning
the
renewal
policy
or
contract,
the
offer
to
21
renew
the
policy
or
contract,
or
the
notice
of
nonrenewal
of
22
the
policy
or
contract
shall
also
be
mailed,
delivered,
or
23
transmitted
electronically
to
the
last
known
address
of
the
24
producer
of
record
of
the
policy
or
contract.
25
Sec.
3.
EFFECTIVE
DATE.
This
Act
takes
effect
January
1,
26
2025.
27
EXPLANATION
28
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
29
the
explanation’s
substance
by
the
members
of
the
general
assembly.
30
This
bill
increases
the
notice
requirement
for
the
renewal
31
or
nonrenewal
of
personal
lines
policies
from
30
to
60
days
32
before
the
end
of
the
policy
term.
33
The
bill
takes
effect
January
1,
2025.
34
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