Reference is to Printer's Date 02/28/19-H.
Amend the bill, as and if amended, by striking SECTION 2 and inserting:
/ SECTION 2. Section 38-77-120(b) of the 1976 Code is amended to read:
"(b) Subsection
(a) does not apply if the:
(1)
insurer has manifested to the insured its willingness to
renew or to renew with a reduction in coverage by
actually issuing or offering to the insured to issue a renewal
policy, certificate, or other evidence of renewal, or has
manifested such intention to the insured by any other means
provided that in the case of a reduction in coverage, the
insurer provides notice of a reduction in coverage to the named
insured in a separate document entitled the 'Notice of Reduction
in Coverage' no less than fifteen days prior to the effective
date of the renewal that includes the proposed reduction in
coverage. This notice must:
(i)
inform the insured of the reduction or
elimination by the coverage section in the renewal policy or
certificate; and
(ii)
provide that it is a notice of coverage changes.
The Notice of Reduction in Coverage
does not amend, extend, or alter coverage provided in a policy.
An insurer's Notice of Reduction in Coverage must be provided to
the director or his designee upon request when investigating a
consumer complaint or when otherwise requested. The director or
his designee may direct the insurer to provide the renewal
without the reduction in coverage if the insurer fails to meet
the requirements of this section. The director or his designee
may issue guidance to an insurer or to the industry regarding
the form and contents of the Notice of Reduction in Coverage in
response to consumer inquiries or complaints;
(2)
named insured has demonstrated by some overt action to the
insurer or its agent that he expressly intends that the policy
be canceled or that it not be renewed."
/
Renumber sections to conform.
Amend title to conform.