Legislative Session number- 85

Bill Name: SF1581

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)