2E Reducing the renewal of insurance policy with altered rates policyholder notification requirement; regulating accelerated benefits, enacting the national association of insurance commissioners model regulation; regulating life insurance continuation of coverage provisions; providing for reserves for universal life insurance policies; authorizing the preferred mortality tables to calculate reserves for certain life insurance policies; regulating life insurance policy illustrations and interest rate disclosures, specifying policies to be illustrated, general rules and prohibitions, standards for basic illustrations, standards for supplemental illustrations, delivery of illustration and record retention, annual report and notice to policy owners, annual certifications and prescribing penalties; providing minimum comprehensive health insurance plan benefits; requiring nonrenewing motor vehicle (automobile) insurers (nofault) to notify the commissioner of commerce within a certain period of time; modifying insurer cancellation notice content requirements; modifying the insurance staff adjuster definition; relating to motor carriers; providing for nonprofit organizations to be insured by a registered risk retention group under certain conditions; repealing department of commerce interest rates advertisement provisions and certain rules
(Ch. 104, 2007)