The bill amends Section 27-8-11 of the General Laws concerning regulations on the cancellation and renewal of various types of insurance, including liability and property damage insurance for automobiles, homeowners insurance, and residential fire insurance. It requires that insurers provide written notice to policyholders regarding any coverage reductions, eliminations, or increased deductibles not requested by the insured. Specifically, for liability and property damage insurance for automobiles rated as private passenger automobiles, insurers must notify policyholders at least 30 days prior to renewal. For homeowners insurance, residential reinsurance, or any components thereof, insurers must provide written notice of any coverage reduction or elimination, cancellation, or increased deductibles not made at the request of the insured at least 30 days prior to renewal. Additionally, as of July 1, 2027, insurers must furnish written notice of nonrenewal at least 60 days prior to renewal. The notice must itemize and describe the policy coverage reductions. The act is set to take effect upon passage.

Statutes affected:
7066: 27-8-11
7066  SUB A: 27-8-11