The bill aims to enhance consumer protection by prohibiting unfair or deceptive practices in financial planning and insurance. It specifically targets insurance producers who misrepresent their qualifications or engage in financial planning without proper disclosure. Key provisions include requirements for insurance producers to disclose their dual role as producers when providing financial planning services, to charge fees based on written agreements, and to maintain records of such agreements for at least three years. Additionally, the bill revises existing laws related to unfair claim settlement practices, ensuring that insurers conduct reasonable investigations and provide clear explanations for claim denials.

The bill also introduces new definitions and regulations for health insurance lead generators, clarifying their role in the insurance market. It amends several sections of the Montana Code Annotated (MCA) to strengthen regulations against misleading advertising and misrepresentation in insurance policies. Notably, it includes provisions that require insurers to maintain comprehensive records of complaints and claims for at least five years, ensuring transparency and accountability. The act is set to take effect on January 1, 2026.

Statutes affected:
LC Text: 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_1(1): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_1(2): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_1(3): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_1(4): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_1(5): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_1(6): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_1(7): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_1: 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(1): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(10): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(11): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(12): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(13): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(14): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(15): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(2): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(3): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(4): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(5): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(6): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(7): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(8): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(9): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2: 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_X(1): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_X(10): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_X(11): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_X(12): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_X(13): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_X(2): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_X(3): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_X(4): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_X(5): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_X(6): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_X(7): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_X(8): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_X(9): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_X: 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001