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ARIZONA HOUSE OF REPRESENTATIVESFifty-fifth Legislature Second Regular Session |
Senate: FIN DPA 10-0-0-0 | 3rd Read 28-0-2-0 |
SB 1118: insurance; fees; consent; medicare supplement
Sponsor: Senator Livingston, LD 22
Committee on Commerce
Overview
Makes various changes to statutes relating to electronic communications, Medicare supplement insurance, title insurance agencies and motor vehicle liability policies.
History
An insurer may deliver a notice or document to a party by electronic means if the party electronically consents to that method of electronic delivery. An insured is deemed to have consented to receive notices and documents electronically if the insured effectuates insurance transactions by electronic means. An oral communication or a recording of an oral communication does not qualify as consent to deliver a notice or document by electronic means (A.R.S. § 20-239).
Title insurance: 1) insures owners of real property against loss or damage suffered by reasons of liens, encumbrances upon, defects in or the unmarketability of the title to such property; or 2) insures the correctness of searches relating to the title to real property (A.R.S. § 20-1562).
An agent for a title insurer is prohibited from adopting a corporate or business name containing certain words or phrases indicating that the agent in the business of title insurance, unless those words are followed by agent or agency (A.R.S. § 20-1583).
A motor vehicle liability policy is an owner's or operator's policy of liability insurance issued by an authorized insurance carrier to the benefit of the named insured and is certified as proof of financial responsibility. A motor vehicle liability policy is not required to insure certain liabilities as outlined in statute, which include any worker's compensation law or for intentional damage or injury authorized or executed by the insured (A.R.S. §§ 28-4001 & 28-4009).
Provisions
1. Removes the minimum amount of the nonrefundable fee for a certificate of director, under seal. (Sec. 1)
2. Allows a specified oral communication as a means of consent for an insurer to deliver a notice or document by electronic means. (Sec. 2)
3. Changes the definition of advisory organizations to mean a person who assists two or more insurers or rate services organizations in the making of rates. (Sec. 3)
4. Asserts the Director of DIFI may not prohibit Medicare supplement insurance providers from offering discounts to enrollees for early enrollment or for payment method. (Sec. 4)
5. Removes the restrictions on the corporate or business name of an agent for a title insurer. (Sec. 5)
6. Asserts motor vehicle liability policies are not required to provide coverage for any liability that is not required under state law. (Sec. 6)
7. Permits motor vehicle liability policies to contain exclusions except as specifically prohibited by law. (Sec. 6)
8. Makes technical changes. (Sec. 3, 4)
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12. SB 1118
13. Initials PRB Page 0 Commerce
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