House Bill No. 6434, also known as Public Act No. 25-69, introduces several technical revisions to the insurance-related statutes. Key changes include the repeal and substitution of specific subsections in various sections of the general statutes. For instance, in section 38a-16, the Insurance Commissioner is granted the authority to issue data calls and subpoenas, and any person ordered to produce documents must comply within thirty days. Additionally, data provided in response to a data call will not be subject to public disclosure. In section 38a-297, the readability requirements for insurance policies are clarified, emphasizing the need for clear language and formatting to enhance consumer understanding.
Further amendments include changes to the composition and voting rights of the board of directors in section 38a-556, allowing members to vote by proxy and ensuring fair representation. The definition of "motor vehicle" and "motor vehicle physical damage appraiser" is updated in section 38a-790, and penalties for violations of certain provisions are established in section 38a-792. Lastly, section 14-67h is revised to include additional references to relevant statutes. Overall, the bill aims to streamline and clarify existing insurance regulations to improve compliance and consumer protection.
Statutes affected: Raised Bill: 14-67h
INS Joint Favorable: 14-67h
File No. 51: 14-67h
Public Act No. 25-69: 14-67h