Substitute for Raised S.B. No. 906
Session Year 2019
AN ACT CONCERNING THE INSURANCE DEPARTMENT'S RECOMMENDED CHANGES TO THE INSURANCE STATUTES, INSURANCE PLANS PROCURED BY THE COMPTROLLER AND RETIREMENT PLANS.
To (1) permit the Insurance Commissioner to obtain the services of certain third-party professionals, (2) eliminate an opt-out concerning disability income insurance products in the Interstate Insurance Product Regulation Compact, (3) modify a voting requirement concerning reorganizing insurers, (4) change the effective date of, and repeal, certain sections of Public Act 18-158, (5) provide that certain notices concerning licensees and commercial risk insurance policies may be made by electronic means, and (6) eliminate certain requirements concerning the insolvency of health care centers.