The bill amends Section 27-8-11 of the General Laws concerning regulations on the cancellation and renewal of homeowners insurance. It requires that, on and after September 1, 2026, any increase of more than twenty percent (20%) in the cost of renewal of homeowners insurance shall require two months' advance notice to be provided by the insurer to the policyholder. Additionally, if an insurer is failing to renew a homeowners policy, the notice of non-renewal must be delivered to the policyholder no less than two months in advance of the policy expiration.

The bill also states that any violation of these provisions shall constitute a deceptive trade practice under chapter 13.1 of title 6, with each violation punishable by a fine not to exceed one thousand dollars ($1,000). The act will take effect upon passage.

Statutes affected:
7066: 27-8-11