HB 1022 – Authorizes a return of premiums paid by insureds

• Sponsor: Parson
• LR Number: 2164H.01T
• Committee: Small Business, Insurance and Industry
• Last Action: 9/16/2015 - Legislature voted to override Governor's veto
• Journal Page: H31
• Effective Date: August 28, 2015
• House Handler: Gosen

Current Bill Summary

HB 1022 - This act authorizes a return or refund of a portion of expense savings to an insured in cases where an insured makes no reportable claim under specified coverages within a prescribed period of time. This act further states that such a return or refund shall not constitute a rebate or an unfair trade practice.

This act is identical to HB 1114 (2015) and a provision contained in HCS/SB 282 (2015) and nearly identical to SB 470 (2015).

MICHELA BIRK